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I have heard criticism that I am too much a pessimist, and that I should support the bitcoin price with some more optimistic prediction. I promise that I will fix it and that this time I will be more positive and we will bring a bit of optimism in it.

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If not downwards, at least to the side

From the graph on Tradingview we can see that concerns expressed in last week’s analysis were right. On Friday night, the Bitcoin price dropped below 6000 USD. However, the 6000 USD limit can also act as a support, though not exactly defined. This support would not have to fall down so fast. In the short run, we can get below 6000, but I think there will generally be a big pressure on moving the price above 6000 USD.

That’s why I think that in the upcoming days, there will not be big sales and the price will probably go to the side. If the price then goes up or down, that is not obvious now. During the weekend, I expect a correction of the Friday’s fall and the price could rise to at least 6400 USD. The correction could last until Sunday afternoon, or even until Monday, but then we have to count with the possibility of another attack on the support.

That’s why I don’t recommend buying. Speculators can bet on correction and go for the long, but I would not hold this long position for a long time. If there is a significant drop during the next week, then we can look at the prices of 5000 USD or even 4000 USD... oh, sorry, I promised to be an optimist ... so in the next week, the price may go to the side.

Sentiment in the market, interests on stock exchanges

TOP traders at OKEX vote in a balanced way for both long and short, but more money is in long positions at a ratio of 22:15.
Bitfinex has a ratio of long - short of 30000:28000
Dollars can be obtained at 0.048% per day. Bitfinex will lend you Bitcoins for 0.025%.

Recommendation: Do not buy yet. The movement to the side is on the horizon.

Disclaimer: These articles cannot be considered as an investment advice, and it is still a good idea to make speculation on bitcoin stock exchanges only with funds you can afford to lose. The high-profit potential is balanced with a significant risk of losing, especially here on the crypto markets.

Česky: https://btctip.cz/kurz-bitcoinu-analyza-chcete-pozitivnejsi-predpovedi/