MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Short-term analysis on Bitcoin for September 14, 2021.

Bitcoin made another try to break below $43,000 yesterday but bulls respected support and price is now again bouncing towards $46,500. There is potential for a bigger bounce as we mentioned in our previous analysis as the RSI has provided a short-term bullish divergence.


Red lines- bullish divergence

Green lines -Fibonacci retracement levels

Green rectangle -bounce target area

Bitcoin continues to trade above the important 38% Fibonacci retracement level. As long as this is the case we expect a bounce towards the green rectangle area around $49,000 price level. Short-term trend remains bearish as price is making lower lows and lower highs. The RSI is not following price and has already provided a bullish divergence. That is why we expect at least a short-term bounce. The bullish divergence is not a reversal signal but only a warning. For short time frames this signals can be ignored, but traders need to be cautious as at this point such a bounce is justified. Failure to hold above $43,000 will be a bearish sign. Next downside target is at $40,800 and next at $38,200.

The material has been provided by InstaForex Company -