SUMMARY : Bullish, corrections appears to have played out, it was a lot deeper than anticipated. Probable new accumulation phase.
-- Technical --
Falling wedge pattern - bullish
RSI is oversold on the daily - bullish
MACD 1D momentum is slowing
-- Fundamentals --
Many whale wallets continue to HODL - see Glassnode for metrics - very bullish
It's been a crazy week and it is tough keeping up with all the FUD that seems to be coming for us. It honestly feels like a co-ordinated assault.
As much as I don't want to spend too much time addressing it, I am sure that you guys are concerned about it. So, I thought I would share a few words on it.
Firstly, let's address that China FUD. It's a classic one and has been around for years. Quite simply, this latest "news" is nothing new. It is basically the Chinese government reiterating the same ban that they had in place since 2017.
Cryptocurrency payments have always been banned but because the government is getting ready to launch the eYuan CBDC, they wanted to make it clear again.
Nothing has changed in law.
$$$ Happy Bull Market $$$
Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----
*Not financial advice and is for educational purposes only. Always DYOR.
Got questions? Shoot.
-- Technical --
Falling wedge pattern - bullish
RSI is oversold on the daily - bullish
MACD 1D momentum is slowing
-- Fundamentals --
Many whale wallets continue to HODL - see Glassnode for metrics - very bullish
It's been a crazy week and it is tough keeping up with all the FUD that seems to be coming for us. It honestly feels like a co-ordinated assault.
As much as I don't want to spend too much time addressing it, I am sure that you guys are concerned about it. So, I thought I would share a few words on it.
Firstly, let's address that China FUD. It's a classic one and has been around for years. Quite simply, this latest "news" is nothing new. It is basically the Chinese government reiterating the same ban that they had in place since 2017.
Cryptocurrency payments have always been banned but because the government is getting ready to launch the eYuan CBDC, they wanted to make it clear again.
Nothing has changed in law.
$$$ Happy Bull Market $$$
Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----
*Not financial advice and is for educational purposes only. Always DYOR.
Got questions? Shoot.
