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๐Ÿ“ˆ Daily TA: Bitcoin BTC/USD | 26-11-2020

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cryptospa
@cryptospa
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Hello, dear members of LeoFinance!

Of course, today I will talk about the price of Bitcoin because the market has been really very dynamic and volatile recently. Yesterday, BTC/USD reached $19,490 and earlier today it sank to $16,218. Now, one Bitcoin is trading at $16,879.77 on Bitstamp, according to TradingView. So, that's a lot of intraday volatility!

Now, the key question is: "Where is Bitcoin heading from now?"

In my view, no doubt that in the long run, Bitcoin will continue to go to the Moon, but in the short-run (I don't mean today, tomorrow, or in the next couple of weeks, I mean in the next 3-6-9 months) I won't be surprised if we continue to witness sometimes some really very high volatility, namely an intraday price fluctuations in the range of $1K-$2K. As solid support during such kind of turbulent times (that I think we will go through in the next few months), I consider the key level of $13,880: In case you are interested in why I consider this level of $13,880 as a very important one, you can check my detailed post about this level.

To be honest, although I am here for the long run, if the next couple of months BTC/USD, all of a sudden, approaches this level ($13,880) I may open some speculative position (long trade), in order to try to catch some nice price rebound (like the one (the blue line) I included in the chart above).

To be continued ...

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

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