Further drop was widely expected! Important weekend Update!!
Hi, Traders ! Monfex is on the air !
Bitcoin demonstrated nothing short of a roller-coaster week: the motions were too fast for the eyes of crypto market players to follow.
* At first, the price of Bitcoin slumped to a five-month low of around $7,000, making the majority of market participants think that the drop would likely continue and we could soon see 6xxx area.
* But later, the price suddenly spiked to over $10,000 – the occasion that has left market analysts scratching their heads as to the reason of the instantly changed market environment.
* At the same time, we did issue a Long signal that day (uk.tradingview.com/chart/BTCUSD/CvQ5OBm6-Long-scalping-signal-to-7-700-7-800-Tight-Stop-Loss/), but we expected only a minor rebound to $7,700 - $7,800 area.
* In the lead-up to Bitcoin's crazy price action this week, bullish Bitcoin traders were staying calm and confident about the market - projecting it will explode over the next couple of years.
* Namely, a widely-respected BTC analyst PlanB, who invented the so-called stock-to-flow BTC pricing model, refreshed his projection on Bitcoin's price to reach $100,000 until the end of 2021.
* Overall, we think that this bullish explosion will not subside in the short-run and the positive moods could push the price higher - to the next target at $12,000.
Active trade signal
Buy @ $8,500 - $9,300.
Target: $12,000.
Stop-loss: $8,200.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Bitcoin demonstrated nothing short of a roller-coaster week: the motions were too fast for the eyes of crypto market players to follow.
* At first, the price of Bitcoin slumped to a five-month low of around $7,000, making the majority of market participants think that the drop would likely continue and we could soon see 6xxx area.
* But later, the price suddenly spiked to over $10,000 – the occasion that has left market analysts scratching their heads as to the reason of the instantly changed market environment.
* At the same time, we did issue a Long signal that day (uk.tradingview.com/chart/BTCUSD/CvQ5OBm6-Long-scalping-signal-to-7-700-7-800-Tight-Stop-Loss/), but we expected only a minor rebound to $7,700 - $7,800 area.
* In the lead-up to Bitcoin's crazy price action this week, bullish Bitcoin traders were staying calm and confident about the market - projecting it will explode over the next couple of years.
* Namely, a widely-respected BTC analyst PlanB, who invented the so-called stock-to-flow BTC pricing model, refreshed his projection on Bitcoin's price to reach $100,000 until the end of 2021.
* Overall, we think that this bullish explosion will not subside in the short-run and the positive moods could push the price higher - to the next target at $12,000.
Active trade signal
Buy @ $8,500 - $9,300.
Target: $12,000.
Stop-loss: $8,200.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.