📈Bitcoin has followed this pattern 2 out of 2 times. In this idea, I will explain why Bitcoin is very likely to continue its rise instead of falling a third time. Are you ready to a PUMP? Write in the comment!
Bitcoin has fallen every time after the false breakout of the key levels:
🔥$45800 - a drop by 40%.
🔥$31460 - a drop by 44%.
📊Fundamental reasons for Bitcoin's fall:
1️⃣ Cryptocurrency overbought by retail traders.
2️⃣ Terra Luna collapse.
3️⃣ SnP500 correction.
4️⃣ War in Ukraine.
5️⃣ High inflation.
🚩All of these 5 points caused not only Bitcoin but also the stock market to fall. But why the current situation is not the same?
The false breakout of $23 000 key level farced BTC to fall to the $21k but i think that this is the end of the local correction. Only if the whales want to accumulate more BTC and take retailers sl they push BTC lower and make a relow of the $21k. After this BTC will be able to pump and we catch this pump also using my free trading strategies.
📊The reason for Bitcoin's pottential growth:
1️⃣ More than 60% of long-term cryptocurrency holders are at a loss and selling their crypto below the purchase price.
2️⃣ Bitcoin is down -75% from its highs. Historically, when Bitcoin fell 80-85% the fall of cryptocurrencies ended. With such a huge capitalization (about $500 billion), Bitcoin can no longer fall or rise that much. So a 75% drop could be the bottom.
3️⃣ The test of the previous ATH as a support.
4️⃣ The test of the 200 WMA which has historically been the bottom of the bear market.
5️⃣ Capitulation of the miners.
6️⃣ Buy signals on the Greenwhich✅indicator for BTC and Alt`s. This indicator has NEVER been wrong in identifying market dips.
7️⃣ A lot of retailers ans whales expect fall to $10-12k. The majority don`t earn at hte financial marets and in trading.
8️⃣ The more people use the same pattern, the worse it works. A false breakout of a key level after a consolidation probably won't work this time, since that's what most people expect.
9️⃣ A rate hike of 75 or 100 bp will have little or no effect on the cryptocurrency market, because all markets have been waiting for this rate hike for a long time.
🚩So the current situation is changing at the global economy and the crypto market. Bitcoin is not the same as it was half year or 1 year ago, now it`s much stronger.
🔥Write in the comment your thoughts on BTC? Will we see the new bottom or it`s pump soon to $31-35k?
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Bitcoin has fallen every time after the false breakout of the key levels:
🔥$45800 - a drop by 40%.
🔥$31460 - a drop by 44%.
📊Fundamental reasons for Bitcoin's fall:
1️⃣ Cryptocurrency overbought by retail traders.
2️⃣ Terra Luna collapse.
3️⃣ SnP500 correction.
4️⃣ War in Ukraine.
5️⃣ High inflation.
🚩All of these 5 points caused not only Bitcoin but also the stock market to fall. But why the current situation is not the same?
The false breakout of $23 000 key level farced BTC to fall to the $21k but i think that this is the end of the local correction. Only if the whales want to accumulate more BTC and take retailers sl they push BTC lower and make a relow of the $21k. After this BTC will be able to pump and we catch this pump also using my free trading strategies.
📊The reason for Bitcoin's pottential growth:
1️⃣ More than 60% of long-term cryptocurrency holders are at a loss and selling their crypto below the purchase price.
2️⃣ Bitcoin is down -75% from its highs. Historically, when Bitcoin fell 80-85% the fall of cryptocurrencies ended. With such a huge capitalization (about $500 billion), Bitcoin can no longer fall or rise that much. So a 75% drop could be the bottom.
3️⃣ The test of the previous ATH as a support.
4️⃣ The test of the 200 WMA which has historically been the bottom of the bear market.
5️⃣ Capitulation of the miners.
6️⃣ Buy signals on the Greenwhich✅indicator for BTC and Alt`s. This indicator has NEVER been wrong in identifying market dips.
7️⃣ A lot of retailers ans whales expect fall to $10-12k. The majority don`t earn at hte financial marets and in trading.
8️⃣ The more people use the same pattern, the worse it works. A false breakout of a key level after a consolidation probably won't work this time, since that's what most people expect.
9️⃣ A rate hike of 75 or 100 bp will have little or no effect on the cryptocurrency market, because all markets have been waiting for this rate hike for a long time.
🚩So the current situation is changing at the global economy and the crypto market. Bitcoin is not the same as it was half year or 1 year ago, now it`s much stronger.
🔥Write in the comment your thoughts on BTC? Will we see the new bottom or it`s pump soon to $31-35k?
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Comment:
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