Where next for Bitcoin ?
So, last week Bitcoin had a 5% pull back, very possibly caused by a single seller according to some on chain metrics. Maybe as a part of the Silvergate "issue". There was a report earlier last week of a Whale movement of a "Large number of dormant BTC being moved from a wallet to an exchange"
Either way, a 5% pull back is nothing really new in Crypto markets, often used to destroy leveraged positions by Bulls / Bears
But Bitcoin itself, How is it ? GOOD is the simple answer, its the sentiment that got hurt.
Bitcoin PA is still in channel, MACD, RSI now OVERSOLD as is StochRSI - so PA is ready to climb again as soon as sentiment returned positive.
What we have to watch here now is the DXY - Pretrading opens later, THAT will be the trigger for Bitcoin.
Repeated Media posts about "Further rate Hikes" are being used to try and upset many traders but we all know that there will be at least 3 more 25 point rises qnd if Crypto recovers well, a 50 may replace one of those.
Be under No illusion, TradFi wants to destroy Crypto and preserve its Monopoly. it is simply Business, It will do what ever is required. But it may not succeed
Either way, a 5% pull back is nothing really new in Crypto markets, often used to destroy leveraged positions by Bulls / Bears
But Bitcoin itself, How is it ? GOOD is the simple answer, its the sentiment that got hurt.
Bitcoin PA is still in channel, MACD, RSI now OVERSOLD as is StochRSI - so PA is ready to climb again as soon as sentiment returned positive.
What we have to watch here now is the DXY - Pretrading opens later, THAT will be the trigger for Bitcoin.
Repeated Media posts about "Further rate Hikes" are being used to try and upset many traders but we all know that there will be at least 3 more 25 point rises qnd if Crypto recovers well, a 50 may replace one of those.
Be under No illusion, TradFi wants to destroy Crypto and preserve its Monopoly. it is simply Business, It will do what ever is required. But it may not succeed
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