Bitcoin Course - Analysis. There is no reverse yet
In the past weeks, it turned out that the $ 10,000 border is still unbeatable for Bitcoin. The maximum price of the bitcoin was 9949 USD. From a maximum of nearly $ 20,000, bitcoin actually seems to be losing value and it doesn’t want to climb higher than the previous maximum. For the reverse, it would be necessary to significantly overcome the resistance.
One explanation why the resistance is higher that the trend-line told us (and it does not fit even according to the logarithmic chart) may be that prices in the band above $ 12,000 were really unreal and the real fight for the future price is now somewhere in the price range 7500 – 8500 USD.
What is the Bitcoin really worth?
It can eventually end up in any way. This may result in further growth, but also in a deeper fall to $ 5,000. If you look closely at the graph to the past, you will find that the run from 3000 USD to 6000 USD over the past year was very quick. And on these prices, there was not much trading. And in the past, it has happened that the price returned to places that in the past were just quickly over surpassed.
The fundamental question is whether Bitcoin has such a value at all. Optimists point out that Bitcoin is in use in developing countries and the number of users is growing. But who actually bought Bitcoins at the end of last year? Weren’t they speculators who were betting on a big demand? What if the real demand is around $ 3,000?
At this moment, it seems to be difficult to speculate on little waves. But you can try it. If you do not feel good for that, just leave half of the budget in the Bitcoin and wait for what’s going to happen. If another move is going to be according to the indicated triangle, then such a middle price would be $ 8,000. If I bet on the next growth, it would pay off to buy under this price. But when dropping to 6000 – 7000 band, I would be nervous as a HODLER, wondering if I could sell it there and buy it back at 3000 dollars.
Sentiment in the market
OKEX top traders vote for short in ratio – 46:50.
On Bitfinex, longs are leading – 30:20.
At margin trading, you can borrow Bitcoin on average at 0.01% per day. Dollars fell from 0.1% to 0.0678%.
Recommendation: try to buy in the 7000 – 8000 area. If the triangle breaks down, rather sell it. If it goes up, sell at the top edge of the triangle.
Česky: http://btctip.cz/kurz-bitcoinu-analyza-obrat-se-zatim-nekona/
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Good analysis
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