Last month, I showed how Bitcoin surpassed its key resistance zone from $10,000 to $11,000, which is a sign of technical strength.Since then, Bitcoin has retained its profits, but has consolidated into a new domain between $11,000 and $12,500.If Bitcoin can be decisively broken, on this domain, that would be another bullish confirmation.However, going back to the area from $10,000 to $11,000 would be a sign of technical weakness.
In May, I demonstrated that Bitcoin has been a corner trend in recent years, which would lead to significant movement.The increase in Bitcoin last month caused it to come out of this corner model, expanding the likelihood of an additional increase (assuming the break continues).
Safe havens like Bitcoin and valuable metals gain advantages from the incredibly competitive financial policies of global central banks that have been introduced to offset the adverse economic effects of the coronavirus pandemic. Extremely low interest rates and quantitative easing will not go away soon, which they deserve to help secure safe haven assets in the coming years.
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Jesse Colombo is an economic analyst and forbes contributor who warns of long-term bubbles and currency crises.
In 2008, at the age of 22, it was identified through the Times of
Jesse Colombo is an economic analyst and forbes contributor who warns of long-term bubbles and currency crises.
In 2008, at the age of 22, he identified through the Times of London as a university student due to the warning of the housing and credit bubble in the United States through an online page he created called “stock-market-crash.net”.
Jesse is now a popular and debatable monetary medium consistent with nationality with more than 150,000 social media fans and nearly 10 million consistent with month-consistent prospects across all platforms.