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03/11/2020

BTC USD, Time for Bulls??

After a massive sale of btc of what seems to be the cause of the facts related to the coronavirus, which bring fear to the market in general, plus the scandal of the Plus token scam. In what, apparently, resulted in a large sale of btc in the Exchanges. Giving a weekly candle close below $8250 and a key level of fibbonaci where we hoped that the bulls could take place to create a support, the massive sale plus the fear generated by the bears gave a major break and a weekly bearish candle in total control of the bears. Bringing the price with it to a second level of support expected by the bulls, in which we had acting as an important last resistance, before the uptrend movement at the beginning of the year, adding to this, another key level of 78.6% fibbo. We can also observe that this level coincides with what it seems, the creation of the second shoulder of the inverted HCH seen in the weekly and a bullish TL which has acted as support for now. For which the bulls should feel more confident looking for entry at this level or anticipated the arrival of this level, with positions already in the market.

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