How to make money with Bitcoin in the current market environment?
The price of Bitcoin is about to close a negative week, quite calm, where the bulls were not able to overcome the very important barrier in USD 10,000, returning the price to a strong side of almost 40 days. If you’re interested in learning how to make money with Bitcoin in today’s environment, stay tuned to this publication.
Medium-term trend remains intact
To make money trading Bitcoin Trader, you need to have a macro to micro view. For this reason, it is worth knowing the medium-term trend, currently upwards.
Thanks to the price recovery from the USD 3,820 low reached in March, we still have a positive outlook for the next few weeks, and that would change only if the USD 8,700 support is broken through.
For the moment, it is still possible that an escape above USD 10,000 will occur soon.
The short term trend has changed. How to make money with Bitcoin in this case?
With the sudden drop in the price last Thursday, the bears took control in time, most likely they will be able to push the price towards USD 8,700 in the next few hours or days. If this support area is reached, it will be of vital importance that the bulls defend it.
We may see sales even up to USD 8,500, and still maintain the upward trend in the medium term. But it is necessary to show a significant buying power there. Otherwise, sales could increase rapidly.