The Bitcoin (BTC) after the end of its triangle formation had beautiful gains in value. At the time of this posting its value is around US $ 8,590.00 and if resistance in this area is exceeded, Bitcoin should test the next resistance around US $ 8,758.20 and so on. If there is any unfavorable news to the BTC, it can test the first support around US $ 8,173.30 and if the bulls do not hold, we can fall to even larger values around US $ 7,847.10. But by what all is indicating the prices should not have any abrupt retraction, and should continue between $ 8,100 to $ 8,758.20 in the coming days.
We should be aware of the maturity of the futures contracts in six days and with this, as usual, prices should have some retraction. But for now we must continue this progressive price growth. The clue for now is to hold your positions.
While still talking about the maturity of futures contracts, if bears gain a lot of strength on the expiration date of future contracts, we may see the price of the BTC being thrown back into the triangle formation. But as the expectation about the future of digital currencies are favorable we must have a rapid recovery of prices.
Tips for Investors: The one with the BTC, hold their positions and keep an eye on the price of the BTC on the expiration date of future contracts. For those who want to acquire BTC expect the expiration of futures contracts which will cause a decrease in prices and make their purchases.
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