Bitcoin (BTC / USD) What is the key. See daily candle and wait for the close to define a strategy.
The key is still average of 200 daily chart periods.
We will see
Yesterday after they liquidated 3.17B of leveraged positions on the exchanges.
Another way to get bitcoin exchanges, by investors who take a risk with a bullish bitcoin.
I am sorry for all the people who have lost their money in their leveraged positions.
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Investors continue to buy Bitcoin at these prices and withdraw them from Exchange wallets. Yesterday almost 2,173 Bitcoin in full fall continued to buy
This is giving us a clue that it may be a short squeeze and the 200-period MA could define it.
Yesterday the candle ended above the 200-period MA, but today it pierces it down again, again generating uncertainty.
Bitcoin miners
Are miners to blame for this bitcoin price drop?
Bitcoin miners have sold more bitcoin than normal during September 6 and 7, we can see that in the graphs but it tends to become normal in the last hours
Possibilities
If the candle ends the day, with a candle, breaking down, the 200-period MA, daily chart, it would be very risky to enter the purchase of Bitcoin. I could continue correcting
If the candle ends the day with a candle above the 200-period MA, daily chart, it could be a confirmation that it was a short squezze and that in a few days it could recover the previous values.
We must see a candle that does not pierce lower or higher, in a whole day to have a clearer short-medium-term trend of Bitcoin
What is your opinion. What do you think will happen to the price of Bitcoin?
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
We will continue monitoring
To be attentive
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
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