Is Bitcoin a "safe haven" ?
The market price is currently at important down trend line which will decide further movements of Bitcoin price.
If the price does not break the down trend line within the next two days, I expect a quick downward movement.
If the price breaks the trend line upwards, a big upward movement can be assumed.
RSI on daily chart is showing trend continuation but is near heavy over selled, bigger volume is needed to break the red resistance line.
what to pay attention to:
The stock markets are in a correction, yesterday stocks of companies such as Osram and 1 & 1 Drillisch have collapsed sharply after forecast profit warnings.The bigger stocks such as Amazon, Apple and Facebook are near next down trend wave. Palladium has also plummeted and gold will decide the further price direction within the next week. Now it is important to note if in the near future a lot capital flows into cryptocurrencies while at the same time a lot of capital flows out from stocks, regular currencys and commodities. If we determine a transfer of the money, we could begin to speak of a safe haven. Of course there are still many criticisms, such as the long-term volatility and the general acceptance and use case of cryptocurrencies in the general society.
I am excited what the market will show us in the next weeks :)
If the price does not break the down trend line within the next two days, I expect a quick downward movement.
If the price breaks the trend line upwards, a big upward movement can be assumed.
RSI on daily chart is showing trend continuation but is near heavy over selled, bigger volume is needed to break the red resistance line.
what to pay attention to:
The stock markets are in a correction, yesterday stocks of companies such as Osram and 1 & 1 Drillisch have collapsed sharply after forecast profit warnings.The bigger stocks such as Amazon, Apple and Facebook are near next down trend wave. Palladium has also plummeted and gold will decide the further price direction within the next week. Now it is important to note if in the near future a lot capital flows into cryptocurrencies while at the same time a lot of capital flows out from stocks, regular currencys and commodities. If we determine a transfer of the money, we could begin to speak of a safe haven. Of course there are still many criticisms, such as the long-term volatility and the general acceptance and use case of cryptocurrencies in the general society.
I am excited what the market will show us in the next weeks :)
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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