I am Vugar, from Azerbaijan Republic.
Nowadays, many traders and analysts share own analysis about Bitcoin .
Let's analyze now. BTC and SP500 index is moving together. They created and created new high levels during these years.
But we need know that any financial tool must be in lower prices for pulling up later. Therefore, we have to analyze high prices firstly.
So, SP500 has some strong high prices: 3576.88, 3930.15, 4548.38, 4693.53 and 4795.68. Now, it can move to 4309.92 level. This is highly risky zone if SP500 breaks it then index will go down for large correction.
We must not forget that any financial tool can become in flat or correction. Exactly, SP500 is in ths place.
BTC created some high prices by following SP500 in the past: 41858.55, 58065.60, 65156.18 and 69706.47. Now, BTC created strong horizontal trend channel and it have broke this level at price 33197 but BTC could not be strenghten here. It have to move UP a little. I suppose that until 41858-42000.
What is scenario for the future?
SP500 will break 4309.92 and BTC will reach 28680 and 24500. This can be happen during February and March but this movement is irresistible for BTC's new highs.
I do not advice to trade in futures in this period but you can hold your money in spot only.
When bearish season will come then we will wait for dip and buy altcoins from here. Next 2 months is more risky for trading in Crypto Markets.
Be safe and wait with patiency.
Nowadays, many traders and analysts share own analysis about Bitcoin .
Let's analyze now. BTC and SP500 index is moving together. They created and created new high levels during these years.
But we need know that any financial tool must be in lower prices for pulling up later. Therefore, we have to analyze high prices firstly.
So, SP500 has some strong high prices: 3576.88, 3930.15, 4548.38, 4693.53 and 4795.68. Now, it can move to 4309.92 level. This is highly risky zone if SP500 breaks it then index will go down for large correction.
We must not forget that any financial tool can become in flat or correction. Exactly, SP500 is in ths place.
BTC created some high prices by following SP500 in the past: 41858.55, 58065.60, 65156.18 and 69706.47. Now, BTC created strong horizontal trend channel and it have broke this level at price 33197 but BTC could not be strenghten here. It have to move UP a little. I suppose that until 41858-42000.
What is scenario for the future?
SP500 will break 4309.92 and BTC will reach 28680 and 24500. This can be happen during February and March but this movement is irresistible for BTC's new highs.
I do not advice to trade in futures in this period but you can hold your money in spot only.
When bearish season will come then we will wait for dip and buy altcoins from here. Next 2 months is more risky for trading in Crypto Markets.
Be safe and wait with patiency.