Analysis of the movement of bitcoin in the present. What to expect in the near future

Hi, Steemians…

First, we look at the general BTC stock chart.

While everything is unchanged, Bitcoin is moving down under the influence of a bearish trend and is trying to grope the bottom. From above, Bitcoin is under pressure from trend line 1, and from below the coin is helped (while helping) by support line 2, which is drawn from the local fall point in September 2017 and the recent minimum of $ 3,200.

Now we look at the increased stock chart.

We see an unnumbered line, which is a local line of resistance, but it has been dragging for a month and a half already, and we have to take it into account. Price moves along it in tight. This tells us that many traders have the impression that Bitcoin should go up. Experienced speculators see this and most likely will help break through this line. This will most likely happen when the price touches the $ 3,350 (+/-) mark. We have such a notch to the left, there was a rebound from it, so I drew a green line from there.

If the spring really opens up, the price will break through this line without a name and rest on the trend line (1), but not higher. At the same time, the maximum price will be around $ 3,800 (+ 11% of the current price). Assuming this possible action, I added a 50x50 badge, as it is difficult to say for sure about it.

In addition, I do not see possible strong movements. Bitcoin is trapped between powerful lines and will continue to move in this price stream until the end of this month. A little later, signs will begin to appear, where it will move further, although my point of view remains the same - $ 3000 area (for a start)

Thank you for reading and support!
Good luck!

The @upvoteinvest team

A formal disclaimer
Some of the posts might contain our opinion on trading strategies based on our technical and fundamental knowledge. However, please, invest at your own risk. We can’t be held responsible for any losses.

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