Analyst: BTC key position is approaching, technical indicators release buy signal

The code word is better than the market. Bitcoin has now exceeded the $4,900 mark on major exchanges, up 18%+, and the highest price once reached $5,000. However, the enthusiasm for this speculation has faded. We can still see that after the rising currency price, it is the maturity and relative stability of Bitcoin after ten years of turmoil. They are the cornerstone to help the currency market return to its peak.

Bloomberg's Bitcoin Index has unfortunately released an extremely strong buy signal. It is worth noting that the last time it released this signal, the currency market rose 17%.

Bitcoin MACD broke through the 50-day and 100-day moving averages, and speculative demand raised the price of the altcoin (especially the recent surge in platform coins and other altcoins led by Dash, Monroe and Litecoin), the encryption market There is a general increase.

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One counter-intuitive fact is that the reduction in the popularity of Bitcoin on search engines means a reduction in speculative demand, and it also means that the volatility of the currency will fall dramatically. The trading environment is a manifestation of the market's calm and maturity.

Bitcoin began to show value as a means of payment, not as a tool for speculators.

Speaking of the return price, several well-known bitcoin analysts such as Mati Greenspan and Joseph Young have expressed their views. Most of them tend to think that this is a technical behavior. Simply put, the currency is seeking liquidity. The $4,200 mark was broken, and the commissions on it were sparse. Bitcoin’s surge of $4,500 did not appear to be a strong obstacle, so there was a short “topping” in this range, which was $5,000. In addition, due to the decline in the long-short rate, the currency price continued to hit $4,200, which also contributed to the surge.

Note: eToro analyst Mati Greenspan Forbes analyst Joseph Young is a currency analyst who often appears on the international media.

"Bitcoin is a value investment. If it is held for a long time, it is not too late to buy at any time." – Xiaoji said calmly.

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Looking at the essence through the phenomenon, here is the base of the currency circle, a carbon-based living body from the vast universe, today is also a prophet.

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