The Bitcoin seems to have hit everyone with the magic of money and price madness has seen unprecedented heights in its history and time as the price started from the beginning of December from the level of 9300 dollars until he arrived near 20 thousand dollars
We believe that what happens in Bitcoin from a price acceleration is technically unhealthy and reminds us of the major financial bubbles that represent a real danger to the safety of the global economy as well as investors' money around the world. In terms of the unprecedented media focus on the Betcuene commodity, which attracted all attention to it until it became more glamorous than the gold itself, and in terms of the rush of all segments of society with different cultures and knowledge of art and investment in a race to buy the house in hopes of achieving wealth
In general, what happens in the prices of digital crypto currencies and its leader, the Bitcoin, makes us sound very alarmed that something is wrong
Technical Analysis of the Bitcoin Movement
The price has risen more than 100% in 17 days to achieve a peak near the level of 20 thousand dollars is an important level of psychological resistance, our analysis indicates the volume of daily trading and price movement during this period to the presence of real signals on the smart discharge and profit-taking low on the price movement
Also, given the technical indicators, RSI & MACD indicates that there is a clear negative divergence on the price movement, with a buyout suggesting that the correction is approaching the deep price. We see a clear formation of the technical pattern Bump and Run. The reversal of the movement and entering the run or escape phase forming a bearish trend for the price may extend for months to come
We are trying to keep investors ready for what is going on in the global financial markets and we think that the Betcquin is not at a current buy level and we think we should return below $ 10,000 & 8,000 so we would rather stay cautious
Good Luck
