BTC is at a major crossroads right now, and we're in for a ride, but where?
The technical analysis is looking bearish to me right now, but not in a sense that the bull market is over. Only in a sense that we're going to take one more major hit and trade sideways at the price range of $27 000 and $32 000 before the bull run starts back in mid-late july, possibly August. If we break out of this current bearish trend and BTC goes to $42 000 then im sure we're heading for better days. Dont buy at that level! It will rebound back down to this current price level (slightly higher as happens when the market switches to a bullish trend) so we can afford to let the market play itself out and watch from the sidelines, but if we dip to the levels I previously mentioned i'm going all in because we've dipped so many times now and I want to get in at the best price.
BTC has had great news lately in South America, with El Salvador leading the way in BTC acceptance, but in USA there's a lot of talks in congress about strict BTC regulations. Honestly thats what I've been waiting for years for because decentralization is central governments largest fear because their power lies in the fact that they are centralized. We saw India and China ban BTC and I expect to see a trend this next year with countries revealing if they are restricted or progressive by how they will treat cryptocurrency, but as we all know BTC is here to stay no matter what the governments say.
The technical analysis is looking bearish to me right now, but not in a sense that the bull market is over. Only in a sense that we're going to take one more major hit and trade sideways at the price range of $27 000 and $32 000 before the bull run starts back in mid-late july, possibly August. If we break out of this current bearish trend and BTC goes to $42 000 then im sure we're heading for better days. Dont buy at that level! It will rebound back down to this current price level (slightly higher as happens when the market switches to a bullish trend) so we can afford to let the market play itself out and watch from the sidelines, but if we dip to the levels I previously mentioned i'm going all in because we've dipped so many times now and I want to get in at the best price.
BTC has had great news lately in South America, with El Salvador leading the way in BTC acceptance, but in USA there's a lot of talks in congress about strict BTC regulations. Honestly thats what I've been waiting for years for because decentralization is central governments largest fear because their power lies in the fact that they are centralized. We saw India and China ban BTC and I expect to see a trend this next year with countries revealing if they are restricted or progressive by how they will treat cryptocurrency, but as we all know BTC is here to stay no matter what the governments say.
Comment:
Please share what you think is going to happen, I would love to see your thoughts!