BTCUSDT, Daily Technical Analysis. Friday, 31 Jan 2020
BTCUSDT, Daily Technical Analysis. Friday, 31 Jan 2020
PRICE TREND
The uptrend is still ongoing.
VOLUME
The buying force is strongly expressed
When recent pull backs - BTCUSDT only showed the shadow of the candle
And then pulled up very quickly.
There was a candle of this type yesterday with a very large volume.
SUPPORT – RESISTANCE
BTCUSDT may have fallen into an overbought state
Because during the recent rally up we have not witnessed a deep recovery to gain momentum.
Last 2 times going up $1500, always has a correction of $900
May be a correction from $9900 back to $9000 then can go up again.
BTCUSDT is now heading to the very strong round resistance level of 10,000.
At the previous level of 10,000, BTCUSDT was quickly released, pushing the price to 6,500.
CONSIDER
Today is the weekend, and also the end of the month, Bitcoin will not be stable.
Can buy in line with the uptrend
Should not be bought in large volumes
The price is approaching $10,000, should not chase the price anymore.
Can wait to buy up from $9.255 or from $9.000 - $9.200
PRICE TREND
The uptrend is still ongoing.
VOLUME
The buying force is strongly expressed
When recent pull backs - BTCUSDT only showed the shadow of the candle
And then pulled up very quickly.
There was a candle of this type yesterday with a very large volume.
SUPPORT – RESISTANCE
BTCUSDT may have fallen into an overbought state
Because during the recent rally up we have not witnessed a deep recovery to gain momentum.
Last 2 times going up $1500, always has a correction of $900
May be a correction from $9900 back to $9000 then can go up again.
BTCUSDT is now heading to the very strong round resistance level of 10,000.
At the previous level of 10,000, BTCUSDT was quickly released, pushing the price to 6,500.
CONSIDER
Today is the weekend, and also the end of the month, Bitcoin will not be stable.
Can buy in line with the uptrend
Should not be bought in large volumes
The price is approaching $10,000, should not chase the price anymore.
Can wait to buy up from $9.255 or from $9.000 - $9.200