Here we are looking at the daily timeframe for BTCUSD (Bitcoin).
The grey line on the chart stands for EMA300. This is a strong level.
Below this level we can see lower prices (red arrow)...
Above this level we move straight up.
Even if prices drop, we are still bullish, within a recent higher low.
Paraguay Comes To The Rescue
Following the steps of now one of our favorite presidents in the world, the National Deputy of Paraguay has announced intentions of legalizing Bitcoin next month...
@AlanSantana, yeh but we dont want him, keep your tesla
entertheroach
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The fundamentals have never been better for crypto, especially BTC. Hopefully the technicals will soon catch up to the positive fundamentals. I do feel that this manipulation is a last ditched attempt by the market makers and Binance to shake people out and enable the big players like Wells Fargo and others to gobble up crypto from weak hands.
AlanSantana
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@entertheroach, We might get one more final drop and then we are back again growing for the long-term... We will see how it goes.
Maybe the conventional markets will take Bitcoin down with them, but I am looking at an inverse relation between the two.
We see Crypto grow why Legacy crashes.
lcharles1001
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The investment of the decade! Just waiting to buy more.
AlanSantana
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@lcharles1001, I am waiting to produce/generate/earn more... But yes, surely the buy of the decade.
Thanks a lot for your comment.
Namaste.
WAN0097
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While I do think this news will bump up the price of Bitcoin, this'll happen closer to the actual date they legalize. IF they legalize. We saw this with El Salvador, the price remained rather unchanged from the announcement, but immediately spiked within 10 minutes of the bill actually passing.
From this, we can take away the lesson: Speculation is just speculation. Only factual news change the price.
prefabsprout
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@WAN0097, but what you say contradicts the old axoim: buy the rumor, sell the news.