So let's face it and I make it short, as soon as BIT is dropping, a bunch folks start posting BITCOIN is GOING to CRASH!!! Some of them, in my view, just suffer attention deficit, because they don't provide any in-depth analysis...
Maybe so that BIT is having a regular correction ( within range of 10K), but we have to see the financial situation first (mostly in the US) and then look at BIT trajectory to have a better vision on how things are going in the short term and mid term.
But first, according to the my old chart,
1. BITCOIN is bouncing up, to 54/55K USd. maybe a dead chat, but it is retesting the up trend. WHY it is not going down further? I'll explain at the end.
2. After 55K? we don't know, but in short term, either is going up, to test 60K or going down from 55K to retest 42K. And I would argue that this time it will down as much as to 37K.
New stimulus are out, making financial inflation even bigger. Indexes are way too high, stocks are way over valued. Hence, a market correction, especially when a new president is taking the office, this is statistics.
In fact I think this correction is not over yet. Nonetheless, this does not mean that BITCOIN is going back under 40K, why? Because a majority of holders are not Selling it, because people believe it is an up trend , to 60, 80 and to 100K.
Maybe so that BIT is having a regular correction ( within range of 10K), but we have to see the financial situation first (mostly in the US) and then look at BIT trajectory to have a better vision on how things are going in the short term and mid term.
But first, according to the my old chart,
1. BITCOIN is bouncing up, to 54/55K USd. maybe a dead chat, but it is retesting the up trend. WHY it is not going down further? I'll explain at the end.
2. After 55K? we don't know, but in short term, either is going up, to test 60K or going down from 55K to retest 42K. And I would argue that this time it will down as much as to 37K.
New stimulus are out, making financial inflation even bigger. Indexes are way too high, stocks are way over valued. Hence, a market correction, especially when a new president is taking the office, this is statistics.
In fact I think this correction is not over yet. Nonetheless, this does not mean that BITCOIN is going back under 40K, why? Because a majority of holders are not Selling it, because people believe it is an up trend , to 60, 80 and to 100K.
Trade closed: target reached:
we are right under 55K!!!