Bitcoin crashed.!!!!! The bull Market support band should hold.
Hello Traders,
It was quite a shock yesterday but you shouldn't have been worried if you are following my chart properly. As for those who are new trust me, believe me when i tell you something important that no one would. You don't have to fear anything. Don't get scared of this slight pullback. Look at the bright side you weren't fallen from $64k but just mere $52k with 20% correction. Absolutely normal. You could have easily recovered the profits if you had a backup money which you should always have regardless of the bull or bear run.
So now arises an important question. Where to from here?????????
Fundamental Analysis :
If history has been any indication then we are right on track and we must carry our journey forward. But you have to know its september. Crazy things must happen this month and we have got three major dates for you.
!. On 13th-14th september depending on your timezone we have CPI data coming. A very important if you must know. (April 15) A high CPI is good because crypto loves inflation
2. On 21st-22nd september we have annual meeting of FED's. Some say we might get an idea about taper from there. If taper happens this year then you cant stop this rocket from going to the moon
3. We also should mark those dates when options are expiring. One such is on september 21 and one on last week of september. Do keep that in mind.
Technical analysis :
1. Charts are looking bad tbh but we have good news. No new shorts right now.
2. Fear is back in the market which is good opportunity to fill your bags.
3. Now we must hold bull market support band around 42-43k if we don't then maybe bears smell blood and will attack right away. Even i will join their party XD
4. 42.5k, 36k, 35k 31k, some major resistance to watch out if we break to downside.
Or at the end we all are in a bull trap in the mercy of institutions, financial cartel, big banks, IMF etc
Till then do not trade. Just accumulate with no leverage
Happy trading my bears and bulls
Regards
Dante. An artist of crypto.!!!
It was quite a shock yesterday but you shouldn't have been worried if you are following my chart properly. As for those who are new trust me, believe me when i tell you something important that no one would. You don't have to fear anything. Don't get scared of this slight pullback. Look at the bright side you weren't fallen from $64k but just mere $52k with 20% correction. Absolutely normal. You could have easily recovered the profits if you had a backup money which you should always have regardless of the bull or bear run.
So now arises an important question. Where to from here?????????
Fundamental Analysis :
If history has been any indication then we are right on track and we must carry our journey forward. But you have to know its september. Crazy things must happen this month and we have got three major dates for you.
!. On 13th-14th september depending on your timezone we have CPI data coming. A very important if you must know. (April 15) A high CPI is good because crypto loves inflation
2. On 21st-22nd september we have annual meeting of FED's. Some say we might get an idea about taper from there. If taper happens this year then you cant stop this rocket from going to the moon
3. We also should mark those dates when options are expiring. One such is on september 21 and one on last week of september. Do keep that in mind.
Technical analysis :
1. Charts are looking bad tbh but we have good news. No new shorts right now.
2. Fear is back in the market which is good opportunity to fill your bags.
3. Now we must hold bull market support band around 42-43k if we don't then maybe bears smell blood and will attack right away. Even i will join their party XD
4. 42.5k, 36k, 35k 31k, some major resistance to watch out if we break to downside.
Or at the end we all are in a bull trap in the mercy of institutions, financial cartel, big banks, IMF etc
Till then do not trade. Just accumulate with no leverage
Happy trading my bears and bulls
Regards
Dante. An artist of crypto.!!!