4.2.2021 - Bitcoin (BTC / USD)
Hi Traders!
After a longer time, we will look again at Bitcoin, where quite interesting things have been happening in recent days.
It all started with Elon Musk (Tesla) writing the word Bitcoin in his description on Twitter. The market reacted immediately and the price of Bitcoin rose. However, Bitcoin was unable to sustain this growth and the price subsequently fell. It was quite surprising and it is a bearish signal. After a strong gap, which also had sufficient volumes, it was a big surprise that the price could not stay above the trendline.
After this slump, it seemed that Bitcoin was not yet ready for growth and we can expect a further decline. However, we managed to cross the trendline again. It was not a particularly strong growth and the volumes were not large either.
Unlike the first break, we were currently able to stay above the trendline. From the point of view of further growth, holding the trendline is absolutely key and crucial for further progress. We should test other resistances soon.
May the crypto be with you!
After a longer time, we will look again at Bitcoin, where quite interesting things have been happening in recent days.
It all started with Elon Musk (Tesla) writing the word Bitcoin in his description on Twitter. The market reacted immediately and the price of Bitcoin rose. However, Bitcoin was unable to sustain this growth and the price subsequently fell. It was quite surprising and it is a bearish signal. After a strong gap, which also had sufficient volumes, it was a big surprise that the price could not stay above the trendline.
After this slump, it seemed that Bitcoin was not yet ready for growth and we can expect a further decline. However, we managed to cross the trendline again. It was not a particularly strong growth and the volumes were not large either.
Unlike the first break, we were currently able to stay above the trendline. From the point of view of further growth, holding the trendline is absolutely key and crucial for further progress. We should test other resistances soon.
May the crypto be with you!
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