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- Bitcoin price in range mode
- Lightning Network in beta but arouses interest
- Market participation is "very" weak
The recovery of Bitcoin prices depends on adoption levels and favorable regulations. While we are optimistic, buyers are free to increase as soon as we see sharp rises above $ 3,800. Previously, traders should wait and see the approach.
Bitcoin price badysis
fundamentals
There has been a lot of debate around Bitcoin. The discussion often revolves around Bitcoin's ability to function as expected. This involves acting as an electronic cash payment solution of equals, as stated by the founder, Satoshi. However, over time, it is becoming increasingly clear that the network will not handle the influx of users, as we saw at the summits of late 2017.
What's left after Segwit 2X is a fast, secure but unreliable off-line sizing solution. The Lightning network is off-line, but proponents say Bitcoin will become a settlement layer at the end of the day. A valuable storage platform with micro-payment running in these scalable hubs called the Lightning network whose use is now gaining momentum.
Chandelier arrangement
The promise of off-line payments does not bode well for many, but that is the current state of affairs. It may even be the only thing that will stimulate the participation of traders and individuals who pay for goods or services on a daily basis. This will surely support prices that are down 2.8% last week but stable over the last few hours. Nevertheless, our optimism is based on positive fundamentals.
In the short term, bulls can be in control. However, the path of least resistance will be that of the south if buyers do not bear the price by the fence. We estimate that any drop from last week's low of $ 3,400 to $ 500 could cause prices to fall, pushing prices up to $ 3,200 and even $ 1,500, baduming bearishness increases.
On the other hand, our medium-term trajectory will be correct if buyers absorb bear pressure, thereby helping to catalyze a rollback that will result in reverse losses of the BTC on Jan. 28. Before this date, we recommend taking a neutral position.
Technical indicators
January 28, the bear bar with volumes of 17,000 against 12,000 – BitFinex flows guide our business plan. With virtually no market participation, gains in excess of US $ 3,600 and the subsequent confirmation or cancellation of the two-bar price rise inversion scheme of January 29 and 30 depend on increases in volume greater than 17,000 on the lower limit. Ideally, confirmation bars should have high volumes greater than 20k. If, instead, there is a peak – above 20,000, but prices fall from the low of last week, we could see a mbadive sale at $ 3,200 or less.
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