Return to the level of 40,000 USD: the bulls confirm their control of the markets in the short term. However, the significant rise in Bitcoin (BTC) can be a harbinger of USD 42,000 and above, or USD 30,000 and below.
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1 green with 2 digits to absorb 3 reds
Bitcoin made a foray above $ 40,000 today, January 14, 2021, at 3:35 p.m. UTC on Bitstamp. The BTC seems to return definitively to the rise in the short term.
Bitcoin is trading at $ 39,642 at the time of writing. He is currently recording a daily gain of 19.70%, which works out to an amount of $ 3,840.
The daily RSI (14) returns to the 70s again as it dropped to the 50 level during the major correction in Bitcoin which had led the latter up to 30,000 USD.
Bitcoin almost absorbed the 3 daily red candlesticks of January 10, 11 and 12, 2021.
Has the $ 30,000 cleared the way?
Is the current rise a push to new ATH or a big rebound before another major pullback that could bring the BTC below $ 30,000?
The major correction of Bitcoin which had shaken the $ 30,000, is considered healthy by some bitcoiners.
The steps BTC decompressed, following the running of the bulls which had brought Bitcoin from $ 20,000 to $ 40,000 in less than a month.
The bulls still managed to defend the $ 30,000 with institutions that would have bought the troughs.
However, has selling pressure at the $ 40,000, $ 41,000 and $ 42,000 levels eased, compared to that at these levels before the recent major decline in the price? BTC ?
Will the Biden administration’s economic stimulus plan now “bear fruit”? The controversial arrival of Joe Biden to power with a Capitol invested by the army, recalls the turbulence during the post-election period, a situation of instability within the 1st world democracy – all irony aside – which seems to have benefited BTC. The dips buys were ultimately more important than the massive Bitcoin selloffs. The bulls are once again close to $ 40,000. We will soon be fixed on the quantity and strength of bears from this level.
Litecoin, welcome in the Silver Age