"Fidelity Will Offer Cryptocurrency Trading Within a Few Weeks" - the title which can change everything! You can find the original article with more details on the Bloomberg website.
Yesterday, I read this article after posting my idea about further Bitcoin's movements based on Technical Analysis. But this time, we need to look at the market using Fundamental Analysis as we have strong news.
So, what should I say - of course, this type of news with "exact" period of time, let's say like this, it can support the market. This news can be a solid reason for many traders to buy more BTC based on Fundamental Analysis. This news is strong and it's a good reason for breaking the strong resistance zone even without correcting the previous upward movement.
Can the market do this? Sure, as the platform will open BTC trading for institutional traders. As a result, we should expect the increase in demand for BTC and that's why the market can move upward. We are going to keep the uptrend for Bitcoin which will be supported by strong fundamental news too. The target for such upward movements can be the round number levels like 7000.00, 8000.00 and the previous strong resistance levels. The correction movement will be able to come when the platform will be launched and the market will understand the influence of institutional money for the crypto world.
At the same time, this news can push down altcoins. The money can be moved to Bitcoin as the upward movement can be stronger in this market. You should think about the portfolio of altcoins and shitcoins which some of you hold. Maybe you need to change something? But it's not financial advice.
In 2018 year, I made the stream where I shared the ideas that a new bullish run would be supported by institutional money but not by the activity of the crypto community as it was in 2017 and before. I expected to see the upward movement supported by news about the launching of BAKKT platform. But now we have an alternative which also can be good for Bitcoin trading. Let's see, how the market will move within THESE few weeks.
Don't forget about money management and the rules of proper trading!
What do you think about this news? How will it affect on the market based on your point of view? Please, share your comments below this post! I will be grateful if you support my work by clicking LIKE button. Thank you very much!
Yesterday, I read this article after posting my idea about further Bitcoin's movements based on Technical Analysis. But this time, we need to look at the market using Fundamental Analysis as we have strong news.
So, what should I say - of course, this type of news with "exact" period of time, let's say like this, it can support the market. This news can be a solid reason for many traders to buy more BTC based on Fundamental Analysis. This news is strong and it's a good reason for breaking the strong resistance zone even without correcting the previous upward movement.
Can the market do this? Sure, as the platform will open BTC trading for institutional traders. As a result, we should expect the increase in demand for BTC and that's why the market can move upward. We are going to keep the uptrend for Bitcoin which will be supported by strong fundamental news too. The target for such upward movements can be the round number levels like 7000.00, 8000.00 and the previous strong resistance levels. The correction movement will be able to come when the platform will be launched and the market will understand the influence of institutional money for the crypto world.
At the same time, this news can push down altcoins. The money can be moved to Bitcoin as the upward movement can be stronger in this market. You should think about the portfolio of altcoins and shitcoins which some of you hold. Maybe you need to change something? But it's not financial advice.
In 2018 year, I made the stream where I shared the ideas that a new bullish run would be supported by institutional money but not by the activity of the crypto community as it was in 2017 and before. I expected to see the upward movement supported by news about the launching of BAKKT platform. But now we have an alternative which also can be good for Bitcoin trading. Let's see, how the market will move within THESE few weeks.
Don't forget about money management and the rules of proper trading!
What do you think about this news? How will it affect on the market based on your point of view? Please, share your comments below this post! I will be grateful if you support my work by clicking LIKE button. Thank you very much!
Comment:
Hello guys! Today, I'm going to talk about Bitcoin and other crypto markets during the stream - Market Overviews. If you want to get better understanding of possible market movements, take part in this stream using the information from my status bar.
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