Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: Nostoman on February 18, 2021, 06:08:38 PM
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Bitcoin breaks $50,000 and now trading at $51,866(now) after making a new high of $52,600. Here is a quick update on Bitcoin. The short-term supports are shown on the chart and we may see a bounce from these levels. The first support is $50,500 and most probably we see a retest of this zone before going up. If unable to hold this level we see a test of $48,100-$49,600 zone. The last major support is $46,200 and as long as bitcoin trading above it, the bull run continues.
Bitcoin has not seen any correction on the weekly or monthly chart and we expect it will take more time. The correction will come when the institutions start booking profits and ready to buy at a lower price. Use stop loss in all your trades and enjoy the bull market.
Explain you opinion?
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basically for this year a lot of speculation spread about the price of bitcoin which is expected to break $ 100,000, maybe this is a strong reason for those who still pay less attention to stop loss and focus on high prices, but what is worried about is a correction in the next month. Indeed, a stop loss strategy is needed to minimize unexpected corrections. Maybe if you use 50% of the sell and hold the rest for the price, bounce back.
It cannot be denied that the correction will be quite large according to my personal view when this week increases.
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So far, it is very difficult to predict when the correction of bitcoin and of the entire cryptocurrency market will begin, because recently there has been a lot of very important news related to bitcoin and cryptocurrencies, and therefore the price of bitcoin is still growing and is likely will continue to grow, so we need to carefully monitor the cryptocurrency market so as not to miss the moment when the correction will begin.
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There is less and less Bitcoin on the market, because large businesses buy it and withdraw it for long-term storage to their cold wallets. Therefore, I expect a further increase in the price of BTC to 80-100 thousand dollars.
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It is very difficult to predict where the price of Bitcoin will go Because predicting cryptocurrency in advance is a lot of nonsense. Because no one can say when the price of bitcoin will turn.However, as the price of bitcoin has been rising for the past few days, it seems that bitcoin could cross ,$100k this year.
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Bitcoin Breakout rising wedge on 4H timeframe also retest done. Now looking ready for next leg up. The price of Bitcoin is constantly rising. Prices have risen the most this time around. Many investors have benefited by investing in Bitcoin. Bitcoin has become known as a much more popular cryptocurrency around the world. So in the future the situation of Bitcoin will be better in the cryptocurrency market. The price of Bitcoin will increase the most.