On the crypto front, everything is calm ... for now

The price of Bitcoin has calmed down since the last aggressive sale. It was triggered by a statement by Mark Zuckerberg to the US Congress, who was subjected to a fierce interrogation on Calibra, the Libra product, and of course, the severe security, privacy, discrimination and censorship issues on Facebook. We began to see Zuck more in a suit than in his famous blue T-shirt.

The price went up to 61.8 Fibo, with the sale stopped for the time being. Bitcoin seems to be taking its toll, at a time when there is no catalyst and a fundamental factor to drive the price. We have a breakthrough in the rectangular range, in which we are creeping the price so far. A previous close with a dojo implies some price recovery, and we will first expect the price to try to test the area again at 7600. The sentiment enhancement in cryptocurrencies will trigger a more aggressive recovery, expecting a possible bullish movement to reach 50 Fibo. In this case, this is our alternative scenario.

Given the recurring pattern of - range - 10% collapse - range - we would expect a similar situation to repeat the crypto winter of 2018. We also have a deadly crossing. On the downside, we are already talking about declining below 7000 and moving to the area at 6366 where the bulls will be the last resistance in the main long-term trend line.

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