Hi, Traders ! Monfex is at your service !
Please find below our Weekend update on Bitcoin price action.
* Bitcoin keeps steadily holding above $9,000 despite a slightly increased bearish activity, and it seems to have entered a prolonged consolidation phase on H1-H4 time-frame.
* As we approach Bitcoin halving (due in May 2020), the prevailing price dynamic is obviously biased upward. Historically, BTC tends to speed up bullish momentum six months ahead of the next reward halving.
* Hence, we expect BTC to return to the five-digit price region in November-December 2019. By conservative estimates, BTC may rise to $12,000 in the short- to mid-term.
* Supported strongly from below, BTC could demonstrate a quick move up - above $9,400 - at any moment. If backed by the sufficient Volume, this motion would also instantly trigger the new bullish rally - back to the five-digit price area.
Active trade signal
Buy @ $8,500 - $9,200.
Nearest target: $10,500.
Mid-term Target: $12,000.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Please find below our Weekend update on Bitcoin price action.
* Bitcoin keeps steadily holding above $9,000 despite a slightly increased bearish activity, and it seems to have entered a prolonged consolidation phase on H1-H4 time-frame.
* As we approach Bitcoin halving (due in May 2020), the prevailing price dynamic is obviously biased upward. Historically, BTC tends to speed up bullish momentum six months ahead of the next reward halving.
* Hence, we expect BTC to return to the five-digit price region in November-December 2019. By conservative estimates, BTC may rise to $12,000 in the short- to mid-term.
* Supported strongly from below, BTC could demonstrate a quick move up - above $9,400 - at any moment. If backed by the sufficient Volume, this motion would also instantly trigger the new bullish rally - back to the five-digit price area.
Active trade signal
Buy @ $8,500 - $9,200.
Nearest target: $10,500.
Mid-term Target: $12,000.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
