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Dennis#MD

Bitcoin Price is rising fast

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Hello guys,

Bitcoin price rose sharply from $6,600 up to $9,290 today, May 7.Screen Shot 2020-05-07 at 12.36.01 PM.png

Screen Shot 2020-05-07 at 12.36.46 PM.png

Warm-up? History Shows Bitcoin May See Epic Rally After 150% Gain

https://cointelegraph.com/news/warm-up-history-shows-bitcoin-may-see-epic-rally-after-150-gain

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Seems significant volumes are needed in order to break the 10.000 resist.

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It is a fact that technical analysis and elliot wave theory do not apply in predicting Bitcoin's price. However, when we use technical indicators, supports and resistants that go back in time, 2013-2018, then you can have a very general idea of what is happening and you can conclude a price range where you expect price to move.

This is not good for those who practice day to day trading, but those who want to build a long term investment portfolio will find it very useful.

My 2c.

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This is quite logical, because this asset is absolutely independent and against the background of the current crisis it looks like the best option for saving your money. I think that we need to look at it now as carefully as possible, it can be useful. 

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