Bitcoin after Elons "market manipulation"
Dear traders and followers,
welcome to today's Bitcoin market update!
What a crazy time for Bitcoin and alt coins, the rally is in !
It is precisely at a time like this that it is important to remain calm and think objectively. There should be no FOMO because this will only generate losses.
What is my view ? At current prices, almost only larger investors who also think long-term are getting in. But do they do so at such high prices ? No ! Of course, they are waiting for every dip to shop cheaply. Indicators (MACD, RSI and TTM squeeze) have been pointing to an impending correction for the past week, but until we get a clear sell signal from the market, we are trading with the trend and looking for buy entry points. After the price has broken out of the triangle formation, it will fall relatively quickly to $40,000. Here are several strong supports (Fibonacci golden ratio, trendline, horizontal support) From the price area, the price should quickly rise again to a new high. The price target results from the width of the triangle formation.
I am convinced that for new highs it needs positive news again, slowly the market loses the strong buying volume. Let’s be surprised what Elon or other big ones (which probably profit the most from Bitcoin) still come up with in the next few days. The market should have gone into a more severe correction at the end of January. The longer this correction lasts, the larger it becomes in the end.
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welcome to today's Bitcoin market update!
What a crazy time for Bitcoin and alt coins, the rally is in !
It is precisely at a time like this that it is important to remain calm and think objectively. There should be no FOMO because this will only generate losses.
What is my view ? At current prices, almost only larger investors who also think long-term are getting in. But do they do so at such high prices ? No ! Of course, they are waiting for every dip to shop cheaply. Indicators (MACD, RSI and TTM squeeze) have been pointing to an impending correction for the past week, but until we get a clear sell signal from the market, we are trading with the trend and looking for buy entry points. After the price has broken out of the triangle formation, it will fall relatively quickly to $40,000. Here are several strong supports (Fibonacci golden ratio, trendline, horizontal support) From the price area, the price should quickly rise again to a new high. The price target results from the width of the triangle formation.
I am convinced that for new highs it needs positive news again, slowly the market loses the strong buying volume. Let’s be surprised what Elon or other big ones (which probably profit the most from Bitcoin) still come up with in the next few days. The market should have gone into a more severe correction at the end of January. The longer this correction lasts, the larger it becomes in the end.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/ don't miss new ideas
Thanks for your support!
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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