Bitcoin killing Huddles
Greetings.
Today I made analysis pinpointing Bitcoin Killing Huddles.
One may ask what is Bitcoin killing Huddles, well they are points where Bitcoin market have to make a critical decision and this points has been stopping the market from being on momentum for months now.
Over the months many have been calling for bull run while others are calling for bear but it's hard to say as most of the initial analysis has failed.
if you are planning to open a position: In this chart I try to analyze what the bears should expect and what the bulls are seeing in the market to enable you plan yourself.
Bulls: are seeing a bounce on a trend line that is dated back to 2020 support Which recently the line has pushed the price up two consecutive months 2 times and in the 3rd one. As they say buy the dip (support) and sell the top. In this scenario, Bitcoin is in a potential support and buying now could bring a good Roi if the bull market commence but the question is would it be the final bottom for now before the up scale?
Bullish sentiment: last week New York recognized Bitcoin as a legal tender making them the first American state to take such a huge step. More so many countries has adopted and recognized Bitcoin more then the 2018-2019 crash which has exposed a lot of people to buying more crypto.
Companies like Luna, microstrategy and Elon musk has publicly bought millions worth of Bitcoin which was not seen in 18/19 crash.
Bears: 🐻 are seeing playing on the dotted channel and if you look closely you would see it just made the first wave and the the current range could be seen as the impulse wave which if they push more harder we could see a lower low.
Bearish Sentiment: All the Bitcoin event for 2022 has occured and yet nothing positive has happened on Bitcoin price as anticipated. The economical data are not friendly, rumors has it that EU is planing to be tough on Bitcoin minner's and so many countries are squizing crypto traders with tax policy's et al.
More economic recession are been predicated and inflation are reflecting on consumers goods already.
For me, Bitcoin should be considered bullish when it closed above the huddles around 49k and can be called bearish once more when it closes below 36k
Now you know what to expect,
wishing you good luck
Today I made analysis pinpointing Bitcoin Killing Huddles.
One may ask what is Bitcoin killing Huddles, well they are points where Bitcoin market have to make a critical decision and this points has been stopping the market from being on momentum for months now.
Over the months many have been calling for bull run while others are calling for bear but it's hard to say as most of the initial analysis has failed.
if you are planning to open a position: In this chart I try to analyze what the bears should expect and what the bulls are seeing in the market to enable you plan yourself.
Bulls: are seeing a bounce on a trend line that is dated back to 2020 support Which recently the line has pushed the price up two consecutive months 2 times and in the 3rd one. As they say buy the dip (support) and sell the top. In this scenario, Bitcoin is in a potential support and buying now could bring a good Roi if the bull market commence but the question is would it be the final bottom for now before the up scale?
Bullish sentiment: last week New York recognized Bitcoin as a legal tender making them the first American state to take such a huge step. More so many countries has adopted and recognized Bitcoin more then the 2018-2019 crash which has exposed a lot of people to buying more crypto.
Companies like Luna, microstrategy and Elon musk has publicly bought millions worth of Bitcoin which was not seen in 18/19 crash.
Bears: 🐻 are seeing playing on the dotted channel and if you look closely you would see it just made the first wave and the the current range could be seen as the impulse wave which if they push more harder we could see a lower low.
Bearish Sentiment: All the Bitcoin event for 2022 has occured and yet nothing positive has happened on Bitcoin price as anticipated. The economical data are not friendly, rumors has it that EU is planing to be tough on Bitcoin minner's and so many countries are squizing crypto traders with tax policy's et al.
More economic recession are been predicated and inflation are reflecting on consumers goods already.
For me, Bitcoin should be considered bullish when it closed above the huddles around 49k and can be called bearish once more when it closes below 36k
Now you know what to expect,
wishing you good luck
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