Preferred direction: Neutral
Comment: Bitcoin, like gold, continues to break records, and most likely, in the short term, just like gold, a new high will be recorded. In the very near future, perhaps even during the weekend, we will already see the price of the coin at the level of $70 000 and even higher. However, it is unlikely that the instrument will continue to grow because of the large liquidation of market participants who want to sell “at the highs,” and this, in turn, is fuel for growth. Therefore, most likely, an influx of market buyers is now beginning, against the backdrop of which large players will be able to fix part of their volume.
Thus, a more likely scenario in the medium term is the formation of a balance after a preliminary update of the maximum at the level of $70 000. Here, as part of the update of the maximum, we will consider two scenarios that are presented on the chart.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: Bitcoin, like gold, continues to break records, and most likely, in the short term, just like gold, a new high will be recorded. In the very near future, perhaps even during the weekend, we will already see the price of the coin at the level of $70 000 and even higher. However, it is unlikely that the instrument will continue to grow because of the large liquidation of market participants who want to sell “at the highs,” and this, in turn, is fuel for growth. Therefore, most likely, an influx of market buyers is now beginning, against the backdrop of which large players will be able to fix part of their volume.
Thus, a more likely scenario in the medium term is the formation of a balance after a preliminary update of the maximum at the level of $70 000. Here, as part of the update of the maximum, we will consider two scenarios that are presented on the chart.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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