This is my current Analysis on the price movement of Bitcoin.
If you saw my last analysis on the price movement of bitcoin last few weeks ago, my expectation didn't happen. My first expectation was we are first going down before we go up. But well, the market is always right and it seems it wants to go in an upward movement for now.
Although this price movement is very strong. I think we are already ending this short-term upward trend on the price.
As you can see in the RED CIRCLE, the candle stick is in a doji star and this is quite a strong indication that the bulls are already being stopped by the bears.
This 9500 usd resistance also is a very key level from way back on August and October 2019. This candle stick is really telling us that much more sellers are waiting in this area and a strong price rejection is quite a possibility.
For me, I would wait the 7,000 usd price area before I buy. And for the people who wants to short these, be sure to have a stoploss because we never know when this force would stop.
Till next time guys,
**Disclaimer: This is not a Financial Advice and only for Educational Purpose Only.