Unfortunately, the last trading week of BTC was only able to reach $ 10323 while we have set the profit-taking target of BTC at $ 10460. Similar to Bitcoin, the other coins mentioned in the previous article also failed to meet expectations. However, we hope that the stop loss warning in the previous article has been helpful in your trading plan. Because if the strategies and discipline are correctly applied, even with the sudden fluctuations from Bitcoin, the profits will still be positive.
This week, the article will not analyse the top coins but will focus on predicting the trend of Bitcoin in the next week.
Firstly, we will have the $ 9537 support mark – a perfect support level and if the price slides below this threshold will also pull back. However, $ 9537 will not be the milestone that can help BTC price regain momentum because only around this week its strength will be weakened. Therefore, we will see it as a temporary milestone to prevent BTC from falling deep into the $ 8xxx zone.
And the second landmark we would like to mention is $ 9657. Although this point is not resistance, it plays a role as the Bitcoin milestone that needs to be achieved this week if the market wants to gain more growth next week. So if Bitcoin does not cross the $ 9657 mark, what happens? Obviously the opposite scenario will occur. We don’t want to write articles in a two-way prediction, but for the current stage, the given signal is complicated.
As you can see, the trading space between $ 9537 and $ 9657 is candleless. That is the reason why if we can give advice, we will still prioritise Buy and Long orders this week because temporarily $ 9537 will even do its duty to keep the price. Of course, it will be a tight stop-loss order of 3% -5%. There are two proposed coins here: ETH and LTC, but we cannot give a growth expectation because Bitcoin’s path is not clear. Besides, mid-range top coins will also be a good choice when Bitcoin does not have too much volatility.
One more thing to note, whether the market has slowdowns or sharp corrections, the $ 8555 will be a must reached milestone for bitcoin. Therefore, every long or buy orders that we give you should have a stop-loss and take a reasonable profit to avoid the price falling too deep to cut the order.
Maybe the next week will be the week we enter the short order and expect to target $ 8555.
Following our next article to update the entry point to the fastest and most accurate command.