Hey guys,
a few days have passed since my last analysis. this has a background: on Monday and Tuesday was the g20 summit in Argentinia which was followed by Crypto enthusiasts all over the world. The price trend was influenced by the G20 summit. Now that we know there are no real decisions for or against Crypto it is time to re-analyze the market.
As the title already reveals, it is currently very exciting. In the 1 hour chart it looks like a bullish trend for me. The RSI is oversold and the price below the lower Bollinger bands. I see strong support here at the 8500 $ line which should not brake currently.
However, if we switch to the daily chart, the correction does not look finished for me. Here, in my opinion, a final second bottoming out at 6,000 $ is needed to really talk about the end of the correction phase.
the next few hours will decide if the price will move in the direction I have drawn above or if we will see a re-correction to the $ 6000 mark
Stay tuned for more Information
Regards
Danny
a few days have passed since my last analysis. this has a background: on Monday and Tuesday was the g20 summit in Argentinia which was followed by Crypto enthusiasts all over the world. The price trend was influenced by the G20 summit. Now that we know there are no real decisions for or against Crypto it is time to re-analyze the market.
As the title already reveals, it is currently very exciting. In the 1 hour chart it looks like a bullish trend for me. The RSI is oversold and the price below the lower Bollinger bands. I see strong support here at the 8500 $ line which should not brake currently.
However, if we switch to the daily chart, the correction does not look finished for me. Here, in my opinion, a final second bottoming out at 6,000 $ is needed to really talk about the end of the correction phase.
the next few hours will decide if the price will move in the direction I have drawn above or if we will see a re-correction to the $ 6000 mark
Stay tuned for more Information
Regards
Danny
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
