As you can see on the daily chart (
https://www.aicoin.net.cn/chart/D331D4E2), another double is being formed right now, does it mean that BTC will move up in the next few sessions?
Here is an original price analysis from a Chinese analyst Eric Chau from Hashpai, feel free to leave your comments below:
Comments:
Basically, the bullish trend of broad market has been formed, though BTC is still suffering from the possible bearish factors, trend is inclining to bulls however main funds try to depress the price and accumulate chips. Even if there’s a bearish policy ahead, the market is expected to suffer less loses than it did on September 4, the possibility for a correction can’t be excluded. Target can be set near $15,000.
Suggestions:
Chasing after dips is not recommended though bulls are stronger than bears, but you can try to go long when price dips and pay special attention to the risks. Setup with heavy positions is also not recommended before bearish factors are completely digested.
Original by Eric Chau from Hashpai, translated and posted by AICoin Jami.
There's indecision in the market. The question is whether to buy or to sell and obviously the sellers are keeping the price down at the moment. But I'm sure that the price will continue to move up from this point. The analysis is spot on, the target can be set at $15k for the short term once a pump gets under way, before it corrects and moves even further up. But the short term target is definitely $14-15k.
Already seeing some pumps now. We'll be breaking the $200 billion.
Me too, $10,000 is definitely a psychological barrier, I will be really pissed off if we go sub 10k for any sustained period of time.
Exactly, we won't be going under $10k. So the room for losses is miniscule.