Bitcoin update 29.07.24
Updated
After several weeks of correction. No one doubts Trump's victory in the next US presidential election, so we see a positive trend in the market. The fact that Trump is positive about cryptocurrencies and his proposal to appoint Larry Fink (head of BlackRock) to the post of US Treasury Secretary, of course, causes a big stir in the sphere, as I wrote in previous posts about RWA Larry Fink (tradingview.com/chart/BTCUSDT.P/UhgWBlJP-BlackRock-and-other-funds-in-crypto/) has taken tokenization and this sphere into his hands and if he becomes in this post then, the US license for RWA blockchain will be with a company with people from BlackRock I do not doubt that I will say more if he is not even in an office as Treasury Secretary, the blockchain with US license will still be with a company from BlackRock.
About bitcoin.
We are now near the upper level and ATH of Bitcoin. With the news of unlocking a large amount of BTC from MTGox, many people started shorting with stop losses above ATH. So stop losses will be liquidated, liquidity will be reached (red box), and soon, we will see a new top.
We still have a bull market, and according to my forecasts below, it will continue until September 2025. (tradingview.com/chart/BTCUSD/o5q3MLFJ-Bitcoin-Beginning-of-a-new-cycle/)
The cryptocurrency market is a market of expectations, and the number one expectation is President Trump. Buy-on rumors and sell-on facts are the only things that can be said with certainty, and early November may already be a fact and a minor correction. Although the last time Trump was elected, the market reacted with a strong upward rally.
Best regards EXCAVO
About bitcoin.
We are now near the upper level and ATH of Bitcoin. With the news of unlocking a large amount of BTC from MTGox, many people started shorting with stop losses above ATH. So stop losses will be liquidated, liquidity will be reached (red box), and soon, we will see a new top.
We still have a bull market, and according to my forecasts below, it will continue until September 2025. (tradingview.com/chart/BTCUSD/o5q3MLFJ-Bitcoin-Beginning-of-a-new-cycle/)
The cryptocurrency market is a market of expectations, and the number one expectation is President Trump. Buy-on rumors and sell-on facts are the only things that can be said with certainty, and early November may already be a fact and a minor correction. Although the last time Trump was elected, the market reacted with a strong upward rally.
Best regards EXCAVO
Comment
I was wrong
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