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.

Vrhunska kriptovaluta je danes zjutraj naredila presenetljivo potezo | Vir: BTCUSD na TradingView.com 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.

Neodločnost se čuti v občutkih, kar je povzročilo zmedo skupnosti, ki je v nasprotju med seboj, odvisno od tega, na kateri strani trgovine so.

Sorodno branje | Astro Crypto: Poletje Bitcoin Padec bi lahko prinesel obilno jesensko letino

$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.

In vse bi se lahko začelo zdaj, če je medvedjo razhajanje mogoče potrditi, preden se to potrdi.

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.

Bikovski scenarij je verjetno bolj verjeten zaradi drugih signalov. LMACD je prešel bikovski, dnevni RSI pa se je odbil od padajoče trendne črte, ki teče z vrha.

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.

Vse to se nanaša na to, da bi moral biti vsak, ki zavzame stališče, previden - dokler se ne pokaže več jasnosti o smeri. Preseganje 53,000 USD v dnevnem časovnem okviru bi moralo najvišjo kriptovaluto črpalke usmeriti proti trenutnemu ATH, ki ga morda ne bo takoj ustavil.

Sledite @TonySpilotroBTC na Twitterju ali preko Telegrama TonyTradesBTC. Vsebina je izobraževalna in je ne bi smeli obravnavati kot naložbeni nasvet.

Izbrana slika iz iStockPhoto, grafikoni iz TradingView.com

Izvorni vir: NoviceBTC