Even though im bullish for the long term, there has been many social and economical events that indicate markets are about to be shaken.. Now the charts are telling that we are going to catch some demand orders a bit lower, any correction or impulse is in a straight line, so bear that in mind before placing your orders.
On BTC we have a bearish divergence with the price and the RSI (A bearish divergence is the pattern that occurs when the price reaches higher highs, while the technical indicator makes lower highs. Although there is a bullish attitude on the market, the discrepancy means that the momentum is slowing. Therefore it is likely that there will be a rapid decline in price.) While the DXY is showing a massive hidden bullish divergence on the monthly chart.
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Good bounce making $50,000 stronger.. impulse is coming up after retracement last week..
Bitcoin at the moment is on a very crucial level, if break 60K and hold that level it means bulls are in control and we will have a second leg up
Check the update on 4HTF
iaretheanimal
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Very astute and all encompassing, note the decline in rate on treasuries in tandem with performance of the dollar. The collapse of outstanding short and long positions and those held at lower prices seem to be driving this as well.
AMCryptoTrading
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@iaretheanimal, hi, how do you see the market now? Bitcoin is giving the opportunity to trade altcoins in a beautiful environment
iaretheanimal
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@AMCryptoTrading, Current inflation discussions will lead to further BTC upside this year, though it seems the current price seems to have encompassed the current global mess. There will be more ahead, and just as the stock market has increased due to the enlargement of the Fed's balance sheet, as it continues to grow, so too will btc prices. Crypto has had a STRONG push in the retail market, its beginning to penetrate similiar to 2017 where ads were everywhere. I can't peruse facebook without constant ads for dogecoin, you had a Digital Bond Issue (first ever of its kind) on Ethereum blockchain, I don't think I need to tell anyone, the focus is off of BTC for the moment, and on to projects that will thrive, survive, and profit.
Check the update on 4HTF