Bitcoin is approaching his long term resistance.
I would like to see a re-test of this area before calling for a breakout.
We are still in the beginning of one of the biggest financial crisis, in a way that unlike the one in 2008, we have no real control over the problem: a virus. This is a bearish sign.
Why would it go up then?
My thoughts on this:
- We are a few days from the Bitcoin halving, which in the past was the catalist for bull rallies.
- Money is being printed and institutions are buying Bitcoin
- Bitcoin unlike fiat currencies, cannot be printed. Which makes his value protected against inflation, just like the kind of crisis we are living!
That makes a lot of bullish signs, but again I would say to be careful as this climb might not be natural.
I am and will always be bullish on the long run.
I wish you the best!
Cyato
I would like to see a re-test of this area before calling for a breakout.
We are still in the beginning of one of the biggest financial crisis, in a way that unlike the one in 2008, we have no real control over the problem: a virus. This is a bearish sign.
Why would it go up then?
My thoughts on this:
- We are a few days from the Bitcoin halving, which in the past was the catalist for bull rallies.
- Money is being printed and institutions are buying Bitcoin
- Bitcoin unlike fiat currencies, cannot be printed. Which makes his value protected against inflation, just like the kind of crisis we are living!
That makes a lot of bullish signs, but again I would say to be careful as this climb might not be natural.
I am and will always be bullish on the long run.
I wish you the best!
Cyato
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