The price of Bitcoin (BTC), the leading cryptocurrency, may be prepared for a big step – up, precisely. The Bollinger Bands indicates this opportunity. The thing is that in the daily time frame, Bitcoin saw a strong recovery from the lower range and made it directly to the middle range inside only one daily candle.
The sales process came with the approach of the middle range, but if the bitcoin price continues to accumulate directly behind the middle range represented by the moving average for 20 days, this may be an introduction to more upward trend, as the upper range is 88,180 dollars as a final goal. This is likely to be a 5 % step – enough for the market to feel optimistic again.
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However, one obstacle remains: Bitcoin is still less than that middle range on the daily time frame, which means that caution is justified. Many have seen the movements of such a collapsed at the same speed, a classic Paul’s trap.
However, slow and fixed monotheism directly below the middle range can turn the scenario completely, which ultimately put Bitcoin towards the upper range. The lower range, which now extends to $ 80,600, stands as a critical support zone – a region, at the present time, has a company.
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If buyers continue to interfere at higher levels, this is a sign of strength. But if Bitcoin fluctuates here, the support level will need to do some dangerous heavy lifting.
Therefore, bull bitcoin, clamp. The market may be preparing for one of these classic vertical movements, flashing, and Mays. The type that, too late, seemed clear. As always, the candle can completely draw the image completely.
