Bitcoin Price Blasts Off With 10% Move, But Is This The Start Of More?

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Bitcoin Price Blasts Off With 10% Move, But Is This The Start Of More?

Bitcoin price in a flash is near $50,000 once again, after several retests of $40,000 rounded support holding strong. Extreme bearish sentiment due to Evergrande, a rising dollar, and more left the market in extreme fear, and expecting the worst.

The sudden surge took Bitcoin price more than 10% intraday from wick to wick, but technicals could suggest it is the start of something more. But before bulls are in the clear, there is a lingering bearish counter-signal that needs to be invalidated before a bigger rally can materialize.

Топ cryptocurrency өнөө өглөө гэнэтийн алхам хийв. Эх сурвалж: TradingView.com дээрх BTCUSD Bitcoin Rallies 10% Intraday From Wick To Wick

A fearful fractal resembling Black Thursday has appeared in Bitcoin price action, which also has certain hallmarks of Wyckoff re-distribution. At the same time, the leading cryptocurrency is holding at high timeframe resistance turned support, and could be breaking out of a bull flag.

Шийдвэргүй байдал нь сэтгэл санааны хувьд мэдрэгддэг бөгөөд энэ нь худалдааны аль талд байгаагаас шалтгаалан олон нийт хоорондоо зөрчилдөж, төөрөгдөлд оруулдаг.

Related Reading | Astro Crypto: Summer Bitcoin Slump Could Bring Bountiful Fall Harvest

$47 million worth of short positions were liquidated in what could have been a bull flag breakout, which has a target of closer to $80,000 per coin. Such a lofty target sounds shocking, but given the parabolic base-building in Bitcoin, isn’t impossible.

Хэрэв баавгайн зөрүүг батлахаас өмнө хүчингүй болговол энэ бүхэн одоо эхэлж магадгүй юм.

Bulls must beware the bear div over the weekend | Source: BTCUSD on TradingView.com Bearish Divergence Warns Of Possible Retest, But Depends On Bullish Momentum

The bearish divergence is on the daily RSI, but if there is enough strength, Bitcoin price will blast through it and it will be invalided. However, eager bulls should be wary of another plunge down due to the signal, which could ultimately retest the bull flag breakout as resistance turned support.

Бухын хувилбар нь бусад дохионоос үүдэлтэй байж магадгүй юм. LMACD -ийн ханш чангарч, өдөр тутмын RSI нь дээрээс доош чиглэсэн чиг хандлагын шугамаас унав.

Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided?

Bitcoin price has also tapped the Parabolic SAR on the daily timeframe, but volume has yet to arrive which could hint at a potential fake out or support the bearish divergence theory.

Энэ бүхнээс үүдэлтэй зүйл бол одоо албан тушаал хашиж буй хүн ядаж чиглэлийг илүү тодорхой болгох хүртэл болгоомжтой байх хэрэгтэй. Өдрийн хугацаанд 53,000 доллараас давсан нь насосны хамгийн сайн криптовалютыг одоогийн ATH руу чиглүүлэх ёстой бөгөөд энэ нь тэнд очоод зогсохгүй байж магадгүй юм.

@TonySpilotroBTC-г Twitter эсвэл TonyTradesBTC Telegram-ээр дамжуулан дагаж мөрдөөрэй. Агуулга нь боловсролын шинж чанартай тул хөрөнгө оруулалтын зөвлөгөө гэж үзэх ёсгүй.

IStockPhoto-ийн онцолсон зураг, TradingView.com-ийн график

Эх сурвалж: NewsBTC