BITCOIN (BTCUSD) – Week 5 – Start of the up or support zone?
In our last analysis we correctly anticipated the movement of Bitcoin up to the resistance line marked on the chart.
In week 5 we will notice the reaction of price in the area of resistance at which it will either be rejected and go down towards the support line or it will break the area and Bitcoin will continue its upward trend to new all time highs.
Over time, Bitcoin has become an increasingly important part of the portfolio of investors (mostly retail but it now seems that it’s starting to get the attention of institutionals). Another big part is played by famous entrepreneurs such as Elon Musk, who put this week in his description on his Twitter’s profile, the sign of Bitcoin.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
In week 5 we will notice the reaction of price in the area of resistance at which it will either be rejected and go down towards the support line or it will break the area and Bitcoin will continue its upward trend to new all time highs.
Over time, Bitcoin has become an increasingly important part of the portfolio of investors (mostly retail but it now seems that it’s starting to get the attention of institutionals). Another big part is played by famous entrepreneurs such as Elon Musk, who put this week in his description on his Twitter’s profile, the sign of Bitcoin.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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