PA for Bitcoin has been a breath of fresh air after near on 14 months of downtrend and now, as we come towards the 1.618 Fib line at $28K, we may need a reality check
While the Weekly MACD is still Bullish and below 0, the lower time frames do need to chill out so as to keep some ability to push higher at a later date
The 1.618 line will be a hurdle and the obvious challenge is to get above it and use it as support while PA catches it breath
This would then allow ALT coins to push higher also, as so far, the ALTS have outperformed Bitcoin in % Gains since Jan 2023
But Rejection for PA is still a VERY Real possibility and the FED has already said that higher Rate rises are likely. and so, PA may come back down to test the line of resistance it just passed through, to test it as support before moving on.
The next 4 weeks for Bitcoin are Critical and Nothing is certain.
Traditional Finance is NOT happy with Crypto taking its money and it Will use its Army, like the FED and SEC to try and destabilise Crypto
THIS is the real war right now...
While the Weekly MACD is still Bullish and below 0, the lower time frames do need to chill out so as to keep some ability to push higher at a later date
The 1.618 line will be a hurdle and the obvious challenge is to get above it and use it as support while PA catches it breath
This would then allow ALT coins to push higher also, as so far, the ALTS have outperformed Bitcoin in % Gains since Jan 2023
But Rejection for PA is still a VERY Real possibility and the FED has already said that higher Rate rises are likely. and so, PA may come back down to test the line of resistance it just passed through, to test it as support before moving on.
The next 4 weeks for Bitcoin are Critical and Nothing is certain.
Traditional Finance is NOT happy with Crypto taking its money and it Will use its Army, like the FED and SEC to try and destabilise Crypto
THIS is the real war right now...
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.