Bitcoin Course - New Analysis. Who wants to go upwards?
From the last analysis, I was expecting going back below $ 7,000. But that is somehow not happening. Meanwhile, the Bitcoin course jumped slightly below $ 10,000. Is it possible that bitcoin is going back for his ATH? Or is it just another wave that’s going to be quickly broken?
When will the Bitcoin be worth over $ 10,000?
Bitcoin price rises up relatively quickly. Well, it is not for the first time it has such a speed. The first correction from $ 6,000 to $ 11,800 was even faster. And we had a similar climb speed in December last year. Therefore, it is quite possible that the price will continue to grow at an unchanged speed somewhere to $ 11,500. Around there I see the possibility of a small correction. It is possible that a similar fall as at the end of February will appear.
The reason I think it’s going to go upwards a bit longer is also the shape of Bitstamp’s orderbook which is pretty much deflected in one direction. For example, at $ 8,400 there are so many bids to buy that their volume is as high as the TOTAL number of bids for selling. And that does not end, because below that price, there are even more people waiting for the buy. Clearly theoretically, we can expect a drop in the short-term to this price – although I think the support is somewhere from $ 8,700 to $ 8,800.
If you have not purchased yet, I recommend you to buy and hold it to $ 11,500. But be obedient; dropping under the trend-line may be a signal for correction. In the evening before the weekend, the price had a problem to break through the $ 9,800. Let’s see if the buying resolves will appear.
Sentiment in the market, interests on stock exchanges
TOP traders at OKEX vote for both long and short (poll oscillates around 50%). By volume, it is 26:17 for long.
Bitfinex – 30:21 in favor of long.
The average US dollar interest rate is 0.0936%, a significant increase over the previous week. Bitcoins can be borrowed at 0.014%.
Recommendation: Hold or carefully buy, the goal is $11,500. Follow the trendline and set stop-loss underneath.
Česky: http://btctip.cz/kurz-bitcoinu-analyza-nova-komu-se-chce-nahoru/
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