Bitcoin finds the traffic light on a steady green light
CONTENT
There are different types of signals in the financial markets, which arise from the statistical and fundamental interpretation of the price action of an asset or financial instrument, these signals indicate actionable buy or sell suggestions for investors.
Basically, a signal indicates the entry or exit of a financial market and is based on emerging chart patterns, as well as fundamental guesses that reveal key levels or points to take an entry or exit position in the market.
These signals in the markets can be compared with the different types of signals that traffic lights give to both pedestrians and drivers of vehicles, if we consider that traffic lights emit signals with beaconing and circumstances of passage without any danger of accidents.
When a traffic light is on a steady green light, it is a signal for the driver to get into gear, in other words, it is a signal to start crossing the road without further danger, now extrapolating this action to the cryptocurrency market is to interpret that the market is in an uptrending green candlestick cycle that will likely take Bitcoin to the next break of $60,000.
It is worth mentioning that Bitcoin has been behaving like a traffic light, presenting a steady green light, an element that has resulted in a consolidation of the price above $48,000, which even in the last three weeks has become a zone of remarkable stability.
Using our retrospective model, it can be clearly seen that the cycle that Bitcoin has been marked day after day in fixed green light, is a similar action to the previous bullish cycle where they were also at similar levels, therefore, it is intuitive that the next target for Bitcoin will probably be to exceed $60,000 and seek a new all-time high.
SOURCES CONSULTED
➊ Singh A Bitcoin Price Analysis: BTC Crypto Price Is Ready To Cross Above The $55k Ma. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Source / Author: Mohamed_hassan, 2020
Greetings friend @lupafilotaxia, certainly the BTC has had an important bullish behavior that makes us assume that it will seek a record high in the coming weeks, given your detailed explanation we will be attentive to the behavior of this cryptocurrency.
Hi @carlir
Look at what the alternative cryptos have been doing in this rebound that BTC is showing us, may be before going to its all time high it will first make a major correction.
Best regards, be well.
hello @lupafilotaxia,
I personally believe that the market has not yet made the correction that from my point of view should have taken the btc price below 15k, although this year the bullish streak seems not to end and the btc price seems to reach 200k, from my point of view the market will fall with the same proportion of this bull market, I just hope that the people who are earning at the moment can protect their gains before that correction.
Hi @trabajosdelsiglo
Good point, certainly if we evaluate the BTC has never had a significant correction, in the annual are exclusively green candles, it may before continuing to make a correction to the 38K and 40K area.
Best regards, be well.
Greetings @lupafilotaxia, the truth the BTC has been having a price rise in an impressive way, having a relentless race to regain strength, many experts assume that much of this rise is due to the NFT games that has generated much income resources to in cryptocurrencies especially in the BTC, interesting article that you share with us.
Hello @chucho27
Certainly the behavior of BTC and the whole crypto market is very impressive, and as for that you mention about NFT plays I also think the same, NFT projects have capitalized large sums of dollars that have entered the cyptocurrency market, and this somehow is related to the re-start of the uptrend.
Best regards, be well.
Greetings @ lupafilotaxia
The movements that Bitcoin has been having are really interesting for investors, getting the green light as you mention in an indication that should close much higher at the end of the year, we must continue to observe their behavior as it leaves many good signs of inputs for investors to capitalize their resources.
Thank you very much for sharing such an interesting publication.
Hi @dgalan
Yes I believe that at the end of the year we will have the BTC over 70K, but I believe that before continuing make an important correction, correction that I have been waiting for to be able to take a good area.
Best regards, be well.
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Hi @lupafilotaxia
I agree with you, however I remain alert and careful in the daily analysis of the graphs.
Best regards.
Hi @janettyanez
In this market one must be alert, we are certainly in an uptrend, but we must not forget that to continue the momentum the market must necessarily have its corrections.
Best regards, be well.
Hello @lupafilotaxia , it is very exiting to see the market coming back to it place but we must still try to be well alert both day and night.
Thanks for shearing
Hi @grace-p
Correct we must be alert, as I mentioned before I estimate that before the price continue first will make important correction.
Best regards, be well.
Greetings mate,
I believe that after the massive correction that the market and traders have experienced in the last month, it is time for the market to resume rising in numbers. Because many altcoins are linked to the price of Bitcoin, if Bitcoin reaches $60K in the coming days, other coins will do so as well, and traders will have a great opportunity to sell.
Thank you for sharing.