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Bitcoin: a 'retest' (throw back) to $ 20,000 would be a clear buying opportunity



The bitcoin is an absolute free rising value, or what is the same without resistance of any kind. Now, we cannot rule out a drop towards the new big support at $ 20,000.

Technical analysis

Short term

Medium term

Long term

Since this summer we have been talking on numerous occasions about the good appearance that began to take the bitcoin. In fact, our goal of going up in the historic $ 20,000 it has been more than met. Now we have him in absolute free rise, or what is the same without resistance of any kind. That is, the bitcoin can go up all it wants and more. We already know how this underlying spends them when it says to go up. It is impossible to guess how much higher it can go but anything is possible. The only thing we can add at this point is that we now have an important support in the area of ​​$ 20,000. This level has recently acted as resistance, as it was also the all-time highs from three years ago and can now do so as support. Or in other words, a fall towards this price level, before resistance and now support (throw back) would fit within the normal parameters and therefore should be interpreted as a new opportunity to get on the shopping train in the underlying.

Weekly chart of the future of bitcoin

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