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Have you heard the expression “Sell in May and go away”?
“Sell in May and Go Away” is a popular saying in the business and finance industry that suggests a strategy for investing and can be used in the cryptocurrency market. The idea behind this strategy is that the market tends to perform poorly between May and October.
The “Sell in May and Go Away” strategy entails selling at the beginning of May or late spring and until November or late autumn when investors would reinvest in the market. The rationale behind this approach is to avoid holding during the summer months.
What Will Happen This Year?
The technical analysis from the daily time frame shows that TOTALCAP broke out from the $1.17 trillion resistance area. This is a crucial area that has been in place since June 2022. Therefore, a breakout from it could catalyze a sharp increase.
Moreover, the lack of resistance until
1
,63 trillion will make it easier for TOTALCAP to increase if the breakout is confirmed. The area is 78% away from the current price.
Finally, the daily RSI broke out from its bearish divergence trend line and is above 50, another sign of a bullish trend.
Therefore, the most likely outlook for May – October is an increase toward the
1
,63 trillion resistance area.
What do you think about it? Will we see 36k of Bitcoin next month?
Are you going to sell in May? Share your thoughts in the comments!
Sincerely yours Kateryna
Have you heard the expression “Sell in May and go away”?
“Sell in May and Go Away” is a popular saying in the business and finance industry that suggests a strategy for investing and can be used in the cryptocurrency market. The idea behind this strategy is that the market tends to perform poorly between May and October.
The “Sell in May and Go Away” strategy entails selling at the beginning of May or late spring and until November or late autumn when investors would reinvest in the market. The rationale behind this approach is to avoid holding during the summer months.
What Will Happen This Year?
The technical analysis from the daily time frame shows that TOTALCAP broke out from the $1.17 trillion resistance area. This is a crucial area that has been in place since June 2022. Therefore, a breakout from it could catalyze a sharp increase.
Moreover, the lack of resistance until
1
,63 trillion will make it easier for TOTALCAP to increase if the breakout is confirmed. The area is 78% away from the current price. Finally, the daily RSI broke out from its bearish divergence trend line and is above 50, another sign of a bullish trend.
Therefore, the most likely outlook for May – October is an increase toward the
1
,63 trillion resistance area. What do you think about it? Will we see 36k of Bitcoin next month?
Are you going to sell in May? Share your thoughts in the comments!
Sincerely yours Kateryna
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Join me in👇🏻:
🚀💣 t.me/+aAADzO1OqsQ2MGI0
💰 I'm using Bybit and I highly recommend it to You. By using my link - You'll get a nice bonus
www.bybit.com/invite?ref=7X0W2A
