At this point in time, the price of bitcoin continues to disappoint its investors, down more than seventy-five percent from its high it was in 2021. On the other hand, this decline begins to increase investment interest in this asset from the financial world.
On the weekly chart, we are approaching the beginning of a death cross, which is a pattern that indicates the possibility of a significant drop in the price of an asset. This assumption is confirmed by the continuation of the formation of corrective wave C, which began in November 2021.
I believe that in the short term there will be a bounce to the region of $25,000, and then we will continue to move in a downtrend to $14,000 per 1 bitcoin. In this area, I plan to start buying shares of crypto mining companies for the long term.
Disclosure: This article may not take into account all the risks and catalysts of the assets described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental/technical criteria or events change in the future, I do not assume any obligation to update this article.
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zAngus
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Greetings, well done on sharing your first idea with the community. Hope you liked the publishing process. Hope you get rich :)
I will be glad for each of your subscriptions, which gives me more motivation to post high-quality analytics.If you have any questions about the article, I will be happy to answer.
Thank you for your time.