BITCOIN RISK MANAGEMENT #bitcoin #defi #web3 #blockchain
Technical Analysis:
1. Bitcoin failed retest of 100 SMA & 50 SMA resistance again.
2. Bitcoin psychological support seems weak after printing this month's high.
3. In the short term, bears are in control - How long will this continue?
4. If Bitcoin loses this level, the next crucial level of support is at $37,000.
5. Bitcoin need to flips 100 SMA & 50 SMA resistance to support, to give the bulls some fresh air and set up the price action for a push towards a retest of historical 200 SMA resistance.
6. Historically, Bitcoin need to flip 200 SMA resistance to support before any major bull run.
7. Bitcoin 1H, 4H, 1D & Wkly strength indicator still bearish.
Fundamental Analysis:
Repeated invalidation of technical analysis data is due to unfavorable fundamental factors - Fundamentals dictates market conditions.
Fundamental factors currently affecting the market conditions are as follows:
1. Fed's chair Jerome Powell hawkish tone of a 50 basis point hike possible for May causing flash crash in the market.
2. Russia-Ukraine war.
3. Geopolitical issues.
4. High Inflation.
5. Fed's 95 billion dollars qauntitative tighttening from May 4, 2022.
6. Dates to watch out - These are make or mar days for the entire cryptos & equities market.
i. FOMC Meeting 3rd & 4th May 2022.
ii. Jobs Report 06-05-22
iii. Russia "Victory Day" 09-05-22.
1. Bitcoin failed retest of 100 SMA & 50 SMA resistance again.
2. Bitcoin psychological support seems weak after printing this month's high.
3. In the short term, bears are in control - How long will this continue?
4. If Bitcoin loses this level, the next crucial level of support is at $37,000.
5. Bitcoin need to flips 100 SMA & 50 SMA resistance to support, to give the bulls some fresh air and set up the price action for a push towards a retest of historical 200 SMA resistance.
6. Historically, Bitcoin need to flip 200 SMA resistance to support before any major bull run.
7. Bitcoin 1H, 4H, 1D & Wkly strength indicator still bearish.
Fundamental Analysis:
Repeated invalidation of technical analysis data is due to unfavorable fundamental factors - Fundamentals dictates market conditions.
Fundamental factors currently affecting the market conditions are as follows:
1. Fed's chair Jerome Powell hawkish tone of a 50 basis point hike possible for May causing flash crash in the market.
2. Russia-Ukraine war.
3. Geopolitical issues.
4. High Inflation.
5. Fed's 95 billion dollars qauntitative tighttening from May 4, 2022.
6. Dates to watch out - These are make or mar days for the entire cryptos & equities market.
i. FOMC Meeting 3rd & 4th May 2022.
ii. Jobs Report 06-05-22
iii. Russia "Victory Day" 09-05-22.
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