BTC battleBitcoin is going to be battling some intense scrutiny, legislation, FUD, and general nonsense for a while.
As you can see, 3 simple predictions -- based on previous trend, EMA, Fib Retracement, and Ext Fib Trend, and a well placed Pitchfan to account for variability -- that leave you with an optimistic, realistic, and pessimistic prediction.
I don't count myself as an expert or anything more than a meat-popsicle. I do appreciate any support and discourse in the comments! Please do!
Not advice. Never advice.
Smoke up, meaty-men.
Daily chart.
Predictions
BTCUSD Trading Analysis
It is safe to say that the cryptocurrency market was indirectly affected by Russia's special military operation against Ukraine. Since the start of the Russian-Ukrainian war, BTCUSD price has soared over $11,000 to approach the $45,000 resistance level again. Other cryptocurrencies have also made considerable gains, with ETHUSD price also rallying $700 and currently testing the market reaction around $3,000.
Two things worth noting: first, according to reports Ukraine is currently raising funds from the world via social media to resist the invasion, with cryptocurrency donations to the government exceeding $28 million so far; second, Russia is under economic sanctions and the country's financial institutions are banned from using the SWIFT international settlement system, that means it is difficult for the country's financial institutions to make cross-border fund transfers greatly affects the country's global money movement and trade conduct. We suspect that this is the reason for the recent resurgence of popularity in the cryptocurrency market.
Short-term resistance at $45,000-48,000, once this price level is broken, bearish people should be careful. If the price is blocked, I believe the consolidation zone will be at $39000-41000.
EU Passes Historic Crypto Regulation, Seeks To Protect ConsumersOn Monday, the much-anticipated Markets in Crypto Assets Regulation (MiCA) bill was enacted. It will concentrate on a coordinated strategy to crypto by all EU members. Because of its significant power consumption, the law originally included an indirect provision to prohibit proof-of-work mining. Many crypto watchdog critics dubbed it a “proposed Bitcoin mining ban in the EU.”
EURUSD Assessing great risk and great potentialOn the interest rate front: Market investors believe this conflict, the largest war Europe has faced since World War II, will prevent the ECB from taking any strong tightening moves in the near term. Also, the Fed is expected to have a 95% chance of raising rates by 25 basis points at its March meeting, and the invasion ended market investors' speculation that the Fed would raise rates by 50 basis points.
Economic: As the war is escalating and has not yet eased, there will be a certain degree of impact on the economies of various countries, especially the European economies will inevitably be dragged down by it.
The euro against the U.S. dollar has seen the bottom put up some time ago, when the war had not yet broken out. Conflicts are also stimulated because of the accumulation of long-term disagreements, Russia through the impact of the war to try to change the current unfavorable pattern, perhaps Europe will pay a heavy price of economic losses. In the short to medium term, I am bearish on EURUSD.
Facebook stock is still not cheapI got a lot of messages last week from people asking if they could buy at $300-330 when I didn't have a clear plan to trade. They were chattering on social media that Facebook shouldn't be so cheap. On the other hand I could get word from many sources that numerous trading houses, banks, etc. thought that tech stocks were still not cheap and that institutions were moving away from highly valued stocks that were on an erratic growth trajectory.
The reality is that the price of Facebook NASDAQ:FB has fallen quickly below multiple support levels, especially below the uptrend line and EMA 200, and there is still a predictable opportunity to short the stock if there is an upward rebound correction.
DXY Monthly DROP! The DXY shows a bull flag forming on the DXY with the stochastic RSI completely overbought and the price reaching the top resistance of the flag. Does this show a massive move from Bitcoin and possibly the transfer of the dollar being backed by Bitcoin as reserve? Questionable ideas. Express your opinion down below in the comments.