Skip to main content

Bitcoin takes a major correction! Alts Suffer 🐻

Sep7:Bitcoin give big correction of near $10000 after 48 days of rally from $28000 to $52800. Yesterday BTC gave bullish breakout of $51k but it turn into fake out. As BTC break 50k support today, we saw panic sell on btc. Its most probably due to future Market.  

On daily chart BTC have support on $46000 and $44000 and so today candle will be important for btc. If BTC finish above $46000 than market will positive.
At the time of writing BTC trading at $47000 after hitting $42843. This can be relief bounce. Market still in panic. We saw in Jan2021 -April 2021 that BTC took time after big quick dump and retest support  again. So a little chance that BTC spend somedays here and retest 42k-43k area.

We are in Bull trend till BTC run above MA 50 Day.

Comments

Post a Comment

Popular posts from this blog

Can Btc reach $65K ?

Oct 14 #Bitcoin: BTC price is moving in a range $53k-58k. We saw cup and handle pattern breakout at $53k on oct 6 and BTC is trading above this zone from last 8 days. After $53k breakout BTC formed new trend and indicate that it can jump hard in next 3 month. Last 5 month chart also indicate that whales accumulate BTC from retail traders.  In last 7 days btc formed a upward channel and breakout above 58k will push price towards 60k-65k in quick time. $53k is work as strong support and indicate that  trader like to buy this zone. As per past trends and chart formation , BTC can pump hard with high volatility in coming months. In last 5 month BTC digest all fud including Big China BAN and trading above 5 month high.  We can see that BTC bullish for next 3 month as per trend and bulls will not loose control in this quarter.
Post a Comment
Read more

Why Cryptocurrencies are so volatile?

If you’re in the cryptocurrency industry or are looking to invest in the market, one of the  advice you’ll receive is – “ the market is highly volatile .” That’s because, Bitcoin, or other cryptocurrencies , embodies the term “roller coaster ride,” with its wild fluctuations. It has faced stupendous lows and spectacular highs over the course of a short term. why is crypto so volatile?  What are the factors that govern its prices, and will it ever reach a point of stability? Contents Cryptocurrency Volatility – What Triggers The Same? Bitcoin was worth about $20,000 in December 2020. In January, it hit $40,000. In April, it hit a new high of $65,000. This was followed by a June crash below $30,000. Around July 20, the coin surged to $45,000. With such a drastic volatility occurring, there are a few factors that contribute to it                                 ...
Post a Comment
Read more

Crypto vs Other Assets. Which is Better?

  Money-making is an art. and, as an artist, you need to find the perfect skill to create wealth.  As an  investor in 2021, your first step towards putting money in a specific financial instrument should be driven by research. Investment Assets in 2021: How to Pick the Perfect Asset Class Every financial investment has a simple objective. That is, to make money. How the instrument goes about achieving this objective is an entirely subjective attribute!  Other asset classes in India include commodities, properties, cash, and bonds. By now, you must be aware of how asset classes are defined, and at this point, it is appropriate to address the elephant in the room, i.e., the cryptocurrency. Is Crypto a Reliable Investment Asset? Most certainly, as the crypto-space is loaded with possibilities when investment opportunities are concerned! While the high volatility makes it a   questionable for short-term trading.           ...
Post a Comment
Read more