Cryptocurrency Market And Bitcoin Review For Closing Spooky Day
Before reading the following lines, know that our intention with these articles is to show the market and technical analysis from a neutral point of view.
We always see there a fight between bulls and bears, which really translates into loss of money always.
For this market close today, we want to show you the latest events and a possible theory that could surprise you in the coming days.
Today you will appreciate that there is no news. That is why we will go to the central point.
Total Market Capitalization
Over the last 24 hours, total market capitalization bounced back a little from ~$217 billion to ~$215.4 billion closed, with most coins seeing gains in the ~1–5% range.
24-hour volume registered ~$65.4 billion. However, hours ago there was an air of desperation and panic sell among all investors and crypto enthusiasm.
Know it, that is the great strategy of whales or institutions, take advantage of panic to obtain excellent profits.
And that was what happened next. After a few hours, when it was believed that the market was going to break all the supports, it recovered from nothing.
So that everyone understands what really happened in these last days, which sums it up, it is generally called “liquidation of old and boring contracts”.
Institutions have to make money at all costs, whatever the cost.
The Bitcoin True Theory That Can Give Us A Hope
As we saw, the Bitcoin hours ago made a new crash that alerted many. The rookies shouted, the traders got scared and the institutions won.
The price of Bitcoin came very close to $ 7.7k and then after the arduous fight between bulls and bears, the price retracted returning around $ 8060.
Bitcoin is trading below its 100-day EMA line, and its 21-day EMA line has crossed to the downside of the 100-day EMA line.
In addition, the price is now supported by the EMA 200 in the daily chart. We still cannot openly state that this is a positive signal, so we must continue to follow up.
On the other hand, by looking at the hourly chart, we can see that Bitcoin is currently trying to test a resistance near $ 8.1k.
And as you have seen in the daily chart, we have drawn a possible future for the following movements in this game of chess.
From what we see, Bitcoin could remain in the following days in a new zone of accumulation after having broken the symmetrical triangle in the direction of downtrend.
Likewise, in the daily chart, Bitcoin is still trading below it’s bottom Bollinger Band (-2 Standard Deviations below its SMA line), and RSI is equal to 20.4, which indicates that the price is oversold.
A New Accumulation Zone For Bitcoin
Many of the followers of Elliot’s theory must be confused at this time, try not to know how cool we are.
We have to tell the truth. Elliot’s theory fails in this market.
While they try to count the waves, other students of mathematical projections and analytical geometry are drawing triangles and defining some where possibly the price of Bitcoin may be consolidating the next few days.
As far DOGE can see. In the next few days we may be entering a new accumulation zone between $ 8.4k and $ 9.1k. And who knows Let’s return to try another symmetrical triangle and then take off.
It is clear, this can happen, if the price remains in the current support and the absurd market manipulation end.
A Little Final Reflection
Sorry Elliotists, Gantt again won a game here. The cryptocurrency market simply behaves geometrically and symmetrically in time.
For now we will continue evaluating. and they know why? Because our specialty is not to see the past but to trace the future.
We wish everyone a very blessed day’s rest and please keep calm. Be neutral is the key.
See you in the next story. With Love, Rubikators Team.
We always see there a fight between bulls and bears, which really translates into loss of money always.
For this market close today, we want to show you the latest events and a possible theory that could surprise you in the coming days.
Today you will appreciate that there is no news. That is why we will go to the central point.
Total Market Capitalization
Over the last 24 hours, total market capitalization bounced back a little from ~$217 billion to ~$215.4 billion closed, with most coins seeing gains in the ~1–5% range.
24-hour volume registered ~$65.4 billion. However, hours ago there was an air of desperation and panic sell among all investors and crypto enthusiasm.
Know it, that is the great strategy of whales or institutions, take advantage of panic to obtain excellent profits.
And that was what happened next. After a few hours, when it was believed that the market was going to break all the supports, it recovered from nothing.
So that everyone understands what really happened in these last days, which sums it up, it is generally called “liquidation of old and boring contracts”.
Institutions have to make money at all costs, whatever the cost.
The Bitcoin True Theory That Can Give Us A Hope
As we saw, the Bitcoin hours ago made a new crash that alerted many. The rookies shouted, the traders got scared and the institutions won.
The price of Bitcoin came very close to $ 7.7k and then after the arduous fight between bulls and bears, the price retracted returning around $ 8060.
Bitcoin is trading below its 100-day EMA line, and its 21-day EMA line has crossed to the downside of the 100-day EMA line.
In addition, the price is now supported by the EMA 200 in the daily chart. We still cannot openly state that this is a positive signal, so we must continue to follow up.
On the other hand, by looking at the hourly chart, we can see that Bitcoin is currently trying to test a resistance near $ 8.1k.
And as you have seen in the daily chart, we have drawn a possible future for the following movements in this game of chess.
From what we see, Bitcoin could remain in the following days in a new zone of accumulation after having broken the symmetrical triangle in the direction of downtrend.
Likewise, in the daily chart, Bitcoin is still trading below it’s bottom Bollinger Band (-2 Standard Deviations below its SMA line), and RSI is equal to 20.4, which indicates that the price is oversold.
A New Accumulation Zone For Bitcoin
Many of the followers of Elliot’s theory must be confused at this time, try not to know how cool we are.
We have to tell the truth. Elliot’s theory fails in this market.
While they try to count the waves, other students of mathematical projections and analytical geometry are drawing triangles and defining some where possibly the price of Bitcoin may be consolidating the next few days.
As far DOGE can see. In the next few days we may be entering a new accumulation zone between $ 8.4k and $ 9.1k. And who knows Let’s return to try another symmetrical triangle and then take off.
It is clear, this can happen, if the price remains in the current support and the absurd market manipulation end.
A Little Final Reflection
Sorry Elliotists, Gantt again won a game here. The cryptocurrency market simply behaves geometrically and symmetrically in time.
For now we will continue evaluating. and they know why? Because our specialty is not to see the past but to trace the future.
We wish everyone a very blessed day’s rest and please keep calm. Be neutral is the key.
See you in the next story. With Love, Rubikators Team.