#Bitcoin has been printing bearish divergence for the last few months and has got the pullback because of it but RSI is not in the over-sold territory yet. If the price gets to the $24K-$25K region, we will likely be oversold and a reversal will be likely.
Why the next Crypto Bull
Market Could Start In 2024:
2012 Halving
Bitcoin Price - $182
1 year later = $510
2016 Halving
Bitcoin Price = $661
1 Year Later $2,600
2020 Halving
Bitcoin Price - $8,600
1 Year Later = $58,000
2024 Halving
#Bitcoin Price =?
1 Year Later = ?
If you're looking to invest into a new asset, people always want to time the bottom correctly.
Just don't.
It causes additional stress.
Make investing simple.
DCA over a period of several weeks and hold on to the position.
#Ethereum is respecting the resistance line. If we cannot break it, we can see some pullback. Bearish divergence in the daily chart enhances this scenario, showing the weakness of the bulls.
Q. Is this a liquidity grab or is current market sentiment to fiat a turning point for this BTC bear cycle?
A. Would love to continue seeing more green back on the charts and a decent bull run. CPI due later, anything under 5-6 is positive.
#CPI#BTC#Bankcollapse
Pending todays news BTC has seen a big uptake over the weekend to retest the previous broadening wedge pattern.
Most importantly for smaller crypto users, today's news is significant put prices can be volatile in the moment. Be calm and have a plan.
#Bitcoin#SiliconValleyBank
So far Bitcoin has been respecting market structure. Slight momentum loss when trying to retest $21500 today. Likely due to the USDC drama.
#Bitcoin#SiliconValleyBank#BTC
Question received today: sell at a loss or hold?
A: Honestly that's a personal call based on your circumstances. I always promote individual responsibility and a balanced portfolio with good governance.
Make a plan & dont confuse day trading with investing.
#BTC#Crypto