Bitcoin another leg down or bottom is in?
Morning 🌞
Where are we at Traders?
Looking for advice from Bullish Bears 🐮🐻 and Bearish Bulls. 🐻🐮
These are some of the well respected users adding lots of value to www.tradingview.com community.
We can extend thanks to these traders providing technical analysis extending into the future.
Long charts are looking from bottom support up but what about top resistant looking down?
We've covered this similar scenario. from November 2021 Resistance.
I do think if dollar strengthen more which I think Wil be the case Crypto will go lower as will tech stocks.
If BTC can decouple from following risk on assets then only will Crypto run up.
Will geo political situation the question is where will retail get extra money like in covid government payments to buy things like Crypto. I hope we can decouple and people see bitcoin is the hedge against inflation.
Also do believe those wanted to sell already did so now just to balance the price action.
Remember BTC don't fall so fast against ZAR as USD when USD strengthen against all other. Everyone believe USD will go down which might be true but slower that other big currency like EUR. This is not good for Crypto is short term.
Another thing.... If bottom is in we need to retest it. 🤔
There so many factors to consider, I agree with you we cant just look at Crypto alone because Cryptos value is coming from so many different sources.
Wish for us to scale into more sources, connections and indicators of the existing value in our global economy not just analysis on the Crypto that is sorting it.
Recession?
Change of season?
War in Russia / Ukraine?
COVID pull back into savings?
Feel not one but all continuing factors.
Historically September has been the worst month for Bitcoin especially during a bear market.
What do you think about the situation with the current Crypto Markets HIVE Community?
This is not financial advice, do your own research.
"Down to every block"
#bitcoin #btc #technicalanalysis #analysis #chart #markets #recession
@unsplash
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