Recapitulation
- Bitcoin price rallied strongly to breach 4K and we still believe that Bitcoin price to hold the low of 3.106K, so the short term trend still bulish supported by EMA50, while the stabilty above 3.920K most likely will push the price to test 4.400K.
Market Factors
- Bitcoin will keep the bull run going once Bakkt launches. This is a very big difference to last year, where we didn't have any of that and we had a 150x bull run. We had zero adoption, terrible scalability and decentralization, no serious company touching blockchain even with a 10 foot pole. Now, we have everything.
Technical
The bullish trend is suggested unless breaking 3.920K and holding below it.
Bitcoin breaking above 4k is certainly a positive development for the cryptocurrency’s price action, it must maintain above 3.920K to keep the bullish trend.
Sentiment
The short term trend is Bullish
Support : 3800.000 level.
Resistance1 :4400.000 level.
Expected trading for today:
is between 3800.00 and 4400.00.
Expected trend for today :
Bullish.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
