WEEKLY CHART ANALYSIS :
Hello everyone , today i will talk about bitcoin weekly analytic according to my own opinion , like we all saw that the bitcoin price jumped up in the last 3 days from 11000$ toward 13000$ with a huge liquidity If this bitcoin inverse head and shoulders plays out, we might see the BTC price reach 20,000 much sooner than you'd expect.
Target: 19,700 (We want to see at least 1 weekly close above the neckline first)
The cool thing in that movement here is that The total market cap also jumped over $400B and this mean that the move is not fake and we can see the prices heading more up in next few days ..
Long story short , we see that bitcoin price is moving above 13k $ levels , according to technical analytic basics , if the price can hold on for another few days , maybe a week above that level with the same volume , i can say that the road is clear to 14k $ then later we can see 20000$ again ..
DAILY CHART ANALYSIS :
Daily charts for the moment i think its not that good or new thing , like we see bitcoin price is retesting the area of 14000 $ again and from the same chart in the past we can see that bitcoin price filed to break that area with a higher volume that the one we got today , so I'm little not sure about that we can see something new this time , beside we can see that RSI levels are above 70 and this is negative mark and we can see that a correction is coming and lets hope its not a dump and a liquidity out
FUNDAMENTAL ANALYSIS :
Like we all see in last two days that PayPal has entered the crypto market by announcing that its customers and for the first time will be able to buy and also sell bitcoin with all other coins that exist in the crypto market , and they can do that by using their PayPal accounts .
lot of traders says that this is the main reason why the bitcoin price moved up with that huge volume and that can be true too adding to that the Fomo this news caused to the market .
but again its bitcoin guys It might be a fake out but I can see there is huge buying pressure coming in after the announcement of PayPal , so lets see if the price can hold or it will dump again like always when the price impact ends ..
Tips about buying or selling ? :
The price of Bitcoin has already risen and may dump at any moment, so I do not advise anyone to buy now, the best is to wait at least a week for its price to stabilize and then decide, if it stabilizes above these current prices, then I expect more liquidity to enter and increase it and it this might be a good opportunity to buy ..
This is the end of the topic and i hope you like it guys , again this is my personal opinion and you can put your under in the posts and i will reply to everyone of you, like the topic if you a benefit from , thank you and happy trading ..