By CryptoCoinTalk – Just a few more days until the turn of the year and then we can get ready for a new year. New round, new opportunities.
Now that the end of 2020 is approaching, it’s also good to take stock for yourself. What have I done well this year? Where have I really missed opportunities? Where am I going to improve myself in 2021? Both as a trader and as an investor it is good to put these things on paper for yourself, so that you can get the most out of yourself.
The bitcoin market is not going to run away and in 2021 there are more than enough opportunities to build up your capital, so be sure to take advantage of that too! All right, enough talk.
It’s time to focus on the asset that this market is all about. Read our brand new Bitcoin price update below.
Bitcoin (BTC) week graph
The weekly chart at the Bitcoin course still looks very strong. We are currently at the 4,236 fibonacci extension level, so we might be able to get a correction.
Given the lack of price information, there is also a good chance that we will ‚just‘ continue the trend.
If we are going to see a correction the $18,533-$19,849 price range on the weekly chart is the first interesting point to look at.
Bitcoin (BTC) day graph
The daily chart shows that that weekly price area has nice confluence of the 0.705 fibonacci retracement level at $19.762.
So that is where you can look at the Crypto Method and Bitcoin Price for a possible swing long position. Anything above that is not really interesting for a swing long position at the moment, but you could of course look at a possible short term trade.
Bitcoin (BTC) 4-hour chart
The 4-hour chart shows another interesting level at $23,805. When the Bitcoin price breaks the range low at $25,700 with a 4 hour candle underneath, chances are we will move towards the $23,278-$24,372. In that area we will look for a possible long position.
Course still very bullish
In short, we still prefer to look at long positions rather than short positions. The trend is up and you want to measure up with the trend as much as possible.
The Bitcoin price is still very bullish and doesn’t seem ready for a serious correction yet. However, we hope that we will see something of a back test so that we can take a nice long position.
The CryptoCoinTalk Telegram Group keeps you informed on a daily basis about price developments in the market. What can you expect from us?
Daily (video) market analysis, calls, setups and (video) education content. Do you find this interesting? Click on this link to join our Telegram channel!