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Monday 04 January 2021
Happy New Year and good morning everyone! Incredible weekend in Bitcoin movement! New ATH (All time high) or new all-time high and 30k break in the early days of 2021, the year promises!
BTC fell from yesterday's high (34,800) to today's low so far (27,672), a percentage of 20.55% (many people only realize how much it has risen when they are frightened by this type of correction). With this movement, the new short-term resistances are at 31,200 and 32,080 and should attract sellers. The volatility will start to increase a lot now and the correction may extend much further, with 25,900 being a strong support at the moment.
Technical analysis seeks to identify behavior patterns in prices that are constantly repeated, creating scenarios that are more likely to occur in certain movements. However, this analysis is for educational purposes and is not an investment recommendation. Wednesday 30 December 2020 Good morning people! Yesterday Bitcoin in the morning made a small correction following the LTB, but in the afternoon it managed to break this trend line and accelerated a rise to 28k as expected, reaching a maximum of 28,500 already at dawn today. The price has been correcting but it is showing that there is buying power at the current level and can continue its rally. The expectation for today is a new historic top at 29k.
Technical analysis seeks to identify patterns of behavior in prices that are constantly repeated, creating scenarios of greater probability of certain movements occurring. However, this analysis is for educational purposes and is not an investment recommendation. Tuesday, December 29, 2020 Good morning people! The BTC price yesterday did not have the strength to test the 28k as expected, making the maximum at 27,500 and starting a slight correction that formed an LTB (downtrend line) on the H4 chart. A support of 25,800 has also been formed with two tests in the last two days, holding well and with the entry of new purchases. A resumption of the LTB is necessary to resume the bullish movement, which may accelerate from 27,200 to 28k. On the other hand, if the support at 25,800 is tested and broken, the fall can be rapid up to 25,170. The expectation for today is to break the LTB and test at 28k. Technical analysis seeks to identify patterns of behavior in prices that are constantly repeated, creating scenarios of greater probability of certain movements occurring. However, this analysis is for educational purposes and is not an investment recommendation. Monday, December 28, 2020 Good morning people!! Very intense Christmas weekend for the price of Bitcoin. On the morning of 12/25 there was a break in the resistance range between 23,750 and 24,200 with a strength candle on the H4 chart, causing the BTC to switch to rocket mode again. The region mentioned now becomes the support in this new phase of the trend and can insure in case of profit taking. After making a new historic high yesterday at 28,409 and correcting up to 25,700, the resumption of the upward movement traded on an LTA (upward trend line) is still starting on the H4 chart. The expectation for today is a new test at 28k.
