If you are just starting out in this market and if you do not have Bitcoin, never enter a leveraged/Margin position. Buying altcoins now is also not the best time, they have been growing for too long, the market cycle is clearly coming to an end and there will be better entry points. Read about the market cycle here (https://t.me/decryptedge/291).

There is another important question related to FOMO - how to fix and take profits? What if you are in a position on Bitcoin, you see a good profit, and do not know what to do - take or wait for 100K? We continue in part II of this write up this week.

#Decryptedge.

#Ripple Brings in Former #SEC Head to Defend it Against #SEC> Thoughts on the market on 22.02.2021

#Bitcoin once again over the weekend updated its ATH at 58352. After that, it rolled back to 55200-55300, where it is currently being traded. Total Crypto Market capitalization is at $1.685 billion with #BTC dominance index of 61.6%.

Stock markets opened without a single dynamic. Asian indices are trading in different directions, S&P 500 futures are declining, the dollar index has been growing for the last two hours, oil, gold and silver are also growing.

The crypto market moved according to the forecast (https://t.me/decryptedge/317). #Bitcoin remained in the 55-57K range, tightening to its upper border and once again updating the ATH. The market capitalization also renewed the highs above 1.760 billion. Altcoins rallied on Saturday and sank somewhat on Sunday, and the dominance index is starting to rise.

By today morning, Bitcoin tested the lower border of the trading range, support at 55K was confirmed. It looks like altcoins and the market as a whole are waiting for #XRP situation to be resolved.

The #SEC's suit against Ripple is due today. We wrote about the situation here (https://t.me/decryptedge/313). The former SEC chairman says there is no legal perspective in this lawsuit. Many well-known lawyers and former SEC officials spoke about the same earlier. In addition, if XRP is recognized as a security, the SEC will have to explain where they were looking for 7 years while the asset was traded on American crypto exchanges.

A negative decision for Ripple will be unfounded, but it cannot be ruled out. This option is possible if the story with Ripple is decided to be used to cool the interest of the mass flock of investors in the crypto market, and spoke about this option here (https://t.me/decryptedge/165). A Negative outcome on XRP (recognition as a security) may be a reason for Bitcoin's correction to 51500-50000, and in case of a breakdown of this level - to 46500-45000, the drawdown on altcoins in this case will be more significant.

The priority option for today is (in the absence of negative) - Bitcoin in the range 55000-58200, with a possible update of the highs. A positive decision (settlement, fine, with the continuation of work in the United States - everything, except for the recognition of XRP as a security), will cause a growth in the market as a whole, a new wave of growth in altcoins, but what will happen to XRP.??

As always, wishing you a great week ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

Yellen sounds warning about ‘extremely inefficient’ #bitcoin. Thoughts on the market on 23.02.2021.

#Bitcoin lost support at 55K during the last 24hrs, after which it went down, establishing a support at $47622 (Binance). This correction was quickly bought out and bitcoin returned above 50K and has since started to grow. An unsuccessful attempt to return above 55K pushed Bitcoin back to 50500-50000, where it is trading at the time of this writing. Total Crypto Market capitalization is $1.528 billion with #BTC dominance index of 61.8%. While writing this review, there was a correction below 49500, and this is the current level of BTC.

Equity markets were looking down yesterday. The Dow Jones rose 0.09%, the Nasdaq fell 2.46%, the S&P 500 shed 0.77% to close at 3876. The tech sector fell significantly. Apllе is down 2.53%, while Tesla is down more than 7%. Oil hit new highs, gold is back above 1800 and silver is above 28. Futures option for S&P 500 shows a slight increase, and Asian indices are also growing. The dollar index is again below 90.

On the crypto market, a variant of yesterday ‘s review worked out with a correction to 51500-50000 (the correction below turned out to be a false breakdown and was quickly bought out). The reason was the speech of the US Treasury Secretary Janet Yellen. She called Bitcoin a "speculative asset" that "is not efficient for transactions due to its speculative nature," and talked of the need to launch a CBDC.

I don't see any particular negative here. It would be strange to expect calls from the head of the US Treasury to buy Bitcoin. The “speculative nature” and high volatility is one of the advantages of Bitcoin, as it makes it possible to make money on volatility, and there are stablecoins for transactions and current payments.

By the way, a month ago, the Bank of England head spoke about the shortcomings of cryptocurrencies and their imminent death (https://t.me/decryptedge/259). Since then, Bitcoin has grown by 20K. About #CBDC and #crypto I spoke here (https://t.me/decryptedge/216). In short - CBDC does not have any advantages of cryptocurrency and is not a competitor to Bitcoin. None of the Bitcoin owners will be interested in the centralized CBDC, which is issued and controlled by the state, with all the consequences that follow from this fact.

In fact, Yellen's statements are not a reason, but a reason for a correction that has been brewing for a long time. Bitcoin has shown a recoilless growth since the beginning of February, so a healthy correction was needed. I said yesterday and earlier that it will be approximately at these levels (https://t.me/decryptedge/319). A similar picture was in January, when Bitcoin fell from 42K to just below 30K.

On XRP - yesterday was the first meeting, Ripple insisted on closing the case. Judging by the price of the asset, which yesterday showed good stability even on a general drain, the prospects are good, insiders are not dumping the coin.

The rest of the altcoins are doing worse, they lost 10-15% (some up to 20%). Everything, as I said here (https://t.me/decryptedge/291). To continue the growth of the main cryptocurrency, it is necessary to gain a foothold above 55K. If now support at 50K is confirmed and we don't go lower, then this is a matter of a couple of days.

Fixing below 48K will lead to a possible consolidation of Bitcoin in the range with the lower border of 43000-42800 and the upper one at 48K. A return to above 50K in this case is subject to external background and may take 7-15 days.

The priority option for today I see the movement of Bitcoin in the range of 50,000-55,000. The option with fixing below 48K is an alternative.

Wishing you a great day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

Square goes even bigger on #bitcoin with a new $170 million investment. 3,319 coins at an average price of $51,236 per coin. Thoughts on the market on 24.02.2021.

#Bitcoin updated its lows at $45,000 during the day. The correction was quickly redeemed and Bitcoin moved to growth, confidently established itself above 48K and is now trying to take 50,000. At the time of writing this review, there have already been three attempts to return above this psychological level. #Bitcoin is currently trading at around 50,100. Total Crypto Market capitalization is at $1,504 billion and BTC dominance index of 61.6%

Stock markets received support from Powell, who once again confirmed the immutability of the Fed's policy in terms of generating new money. He reiterated that there is still a long way to go to achieve targets on the labor market and inflation, the Fed will not raise the rate until full employment and excess of 2% inflation are confidently achieved.

The statement supported the markets, but the S&P 500 could not return above 3900, closing at 3881.37. The dollar index is now falling and has every chance of going below 90, oil, gold with silver and S&P 500 futures are practically in place, Asian indices fell.

Bitcoin fulfilled yesterday's forecast (https://t.me/decryptedge/326). After confirming support at 45000-45500, which was tested three times, Bitcoin moved to growth, consolidated above 48K. Obviously, while the panic sellers were dumping #Bitcoin below 50K, the big players used the situation to buy.

Square, owned by the founder of Twitter, bought 170 million worth of Bitcoin, and the first 50 million were invested in Bitcoin in October 2020. Elon Musk may soon have his say. Tesla shares have been falling for two weeks, yesterday they closed below 700. There are objective reasons for this - and increased competition from other manufacturers, and a shortage of batteries, and a forced decline in prices for some models. Musk has a good move left, in my view, he can buy Bitcoin for another 1-2 billion, which he is quite capable of, announce on Twitter that he is going to buy more or invest Tesla's reserves in the Bitcoin, thereby sending Bitcoin above 60K, this will ensure a reversal of Tesla shares to new highs. He may very soon pull a fast one like that.

Today expect Bitcoin in the range of 48000-52000, if it fixes above 52K, a transition to the range of 52000-55000.

Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

It was #Twitter now its #MicroStrategy again Betting Another $1B on Bitcoin. Thoughts on the market on 25.02.2021

#Bitcoin was in the range of 48050-51350 during the last 24hrs. There were three attempts to gain a foothold above 51K, that did not lead to success, the correction to 48K was quickly redeemed, at the time of writing this review, #Bitcoin is trading at about 49800. Total Crypto Market capitalization is at $1.512 billion, dominance index 61.7%

Equity markets went up after several days of weakness. Dow Jones up 1.35%, Nasdaq added 0.99%, S&P 500 up 1.14% to close at 3925.43. Oil has returned to growth and is already above 66, industry and the oil sector are growing, tech giants have not yet switched to growth. Gold is below 1800 again and silver is rising. The dollar index did not go below 90 yesterday, but it still has chances to do so today. Asian indices and S&P 500 futures are currently on the rise.

On the crypto market, yesterday's forecast fully worked out. #Bitcoin remained in the indicated range of 48000-52000. The lower border of the range was tested at night, and it is still not possible to gain a foothold above 51K.

Today’s priority option for #Bitcoin in the previous range of 52000-48000 with a possible move to a floor higher, in the range of 52000-55000. I think there will be no significant changes until tomorrow's expiration. Altcoins are showing weakness in anticipation of a denouement in Bitcoin and a resolution of the situation in XRP. If nothing unexpected happens, then their time will come by the weekend.

It is somewhat alarming that, against a good external background, Bitcoin cannot even gain a foothold above 50K. I think that this is a set of positions and the price is just being held back, not allowing it to go above 50600-50800. The correction to 45K was too fast, many did not even have time to get scared. The greed index fell from 90 to 74, but it's still extremely high. For growth, more uncertainty is needed, the bulk of market participants must wait for Bitcoin much lower, and the weak hands must go short and then suffer. Once 52K level is achieved then 55K can be successfully taken before going to new highs. This is the most likely scenario for next week.

The story with Bitfinex and Tether which we mentioned many times, has been completed (https://t.me/decryptedge/219). The billion-dollar issue ended with a fine of $ 18.5 million, a ban on operations in New York, and an obligation to provide a report on USDT collateral.

On the one hand, this is good, since one of the important threats hanging over the crypto market has been removed. On the other hand, it is possible that Tether will no longer generate USDT so actively, because the news did not cause an explosive growth in the market immediately after the news was released (and it was published on February 23rd). However, this is an unambiguous positive. Bitcoin has enough growth opportunities even without USDT. In the story with Bitfinex and Tether, the loot clearly defeated evil. Let's see how Ripple does the same.

Yesterday it was twitter now MicroStrategy announced the next purchase of Bitcoin for 1.026 billion. The average purchase price was more than 52,700 per 1 BTC. They don't think it's expensive. The company's shares rose more than 18% yesterday. Some market participants continue to wait for Bitcoin at 20K…


Tesla shares moved to growth, adding more than 6% yesterday. A good pattern is emerging for public companies who bought Bitcoin - said this, adding that you are not going to stop, Bitcoin is growing, the company's shares are also, with the capitalization of the same MicroStrategy at 7 billion, a 10% increase in shares is already 700 million. A 10% increase in Tesla shares is already +70 billion. MicroStrategy and Tesla will soon have followers. (https://t.me/decryptedge/299)

On that high note of expected institutional FOMO, have a blessed day ahead and remember to do your own research; this is not traditional investment of financial advice. In #Cryto expect anything. #decryptedge

Bitcoin Rally Sends 3 Signals to Governments. Thoughts on the market on 26.02.2021

Yesterday before the start of the American session, #Bitcoin did not fall below 48800 it even reached highs above 52K. After which Bitcoin went down and reached lows below 46K, at the time of writing this review it is trading around 45800-46000. Total Crypto Market capitalization is at $1.428 billion and BTC dominance index of 61.7%.

Stock markets saw a correction. The Dow Jones went down by 1.78%, the Nasdaq fell 3.46%, the S&P 500 fell 2.45% and closed at 3829. The tech sector suffered the most, only Twitter hit highs, and everything was falling quite briskly.

Markets do not believe Powell and other speakers from the Fed, who have been declaring since the beginning of the week that monetary policy will not change, that we will print and print money, we are not afraid of inflation. They believe the rising rates on US Treasuries, which have already risen to 1.45%, and this puts pressure on the markets.
Now futures on the S&P 500 are in the red again, Asian indices are falling, oil and gold are heading down. If today the markets are not given a significant reason for growth, there is every chance of seeing the S&P 500 in the 3750 area.

Yesterday Bitcoin was confidently on the path to success reaching highs above 52K, but the correlation with the stock market summed up, which sent it below to the support level at 48K. We just said yesterday that for good growth it is necessary to add uncertainty and fear to the markets. So far, however, it is not particularly scary - and the altcoins are not yet merging for real. Bitcoin support at 45-46K has not yet been tested for strength. It looks like everything is ahead, and if the FUD continues to fall today, we will see Bitcoin below 45K.

Levels to watch: 42000-40000, 38000, and 36000. If we go there, of course. Bitcoin at 38K is still the same: in its properties, advantages and prospects is no different from Bitcoin at 55K. At the same time it is much more interesting for the price. This is in the event of such a correction, but so far I do not consider this option a priority. Today, the expiration of options at 63,100 BTC will add volatility to the market and suffering for those who like shorting BTC and stop losses..

FYI: Key public companies that bought Bitcoin so far.

Microstrategy = 71.079 BTC ($ 2.45bn)

Tesla = 48,000 BTC ($ 1.08bn)

Square = 8,027 BTC ($ 186m)

Marathon = 4,813 BTC ($ 93.7M)

Each of them, especially the first two, can easily drive the market up. I think that if, against the backdrop of the collapse of the stock markets, Bitcoin goes down on a large scale, they will definitely use this opportunity to buy again. Perhaps not immediately, as they are also interested in buying cheaper and more. They obviously will not sell Bitcoin cheaper than they bought, so they understand both its prospects and their ability to manage the price of an asset. Will explain in the next paragraph. Therefore, remember - until you sell Bitcoin cheaper than you bought it, you will not have a loss. It is necessary to sell when it is expensive, let the weak hands sell cheaply.

The 3 signals to governments: 1). Bitcoin’s meteoric rise and have come from those attracted to it not for positive reasons, such as Microstrategy, Tesla and Square. Its fear of inflation and currency debasement. These companies have been pushed to Bitcoin in search of a financial risk mitigator when yields on government bonds are low, though a little less so recently, and when their traditional negative correlation with risk assets, such as stocks, has weakened significantly. With that comes higher threats to future financial stability as the risk-mitigating positioning now attracts a more volatile component. 2). More companies are having to consider the possibility that Bitcoin is evolving into a more widely used form of payment and store of value, two key characteristics of money. 3). Speculator flows have driven the third influence. Bitcoin is part of a set of assets seen by some as providing the possibility of quick outsized gains. Once again, the message to governments and central banks about the risk of future financial volatility and instability is far from reassuring. At Bitcoin’s birth and during its early childhood, too many were quick to dismiss the phenomenon as short-lived and irrelevant, if not prone to fraud. They have been proved wrong so far. Today, too many officials are inclined to look at the cryptocurrency in a rather narrow way. They shouldn’t. What is happening to the price of Bitcoin is indicative of broader developments that are relevant to the design and effectiveness of policies. Insert Source from Bloomberg.

In closing, if conditions are favorable for this (further collapse of stock markets), the price may fall below 45K at the weekend to get a good entry point into new options. If before the American session we do not fix above 48K, and the stock markets continue to fall, we will test 45-46K, in case of falling below the next support area is 38800-40000.

The priority option for today is Bitcoin in the range of 45000-47000 before the American session, further depending on the external background. A return above 48K will lead to the previous trading range of 48000-52000, consolidation below 45K will delay a return above 50K by 7-10 days.

Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

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#JPMorgan note to clients endorses 1% allocation to #Bitcoin as a #hedge. Thoughts on the market on 27.02.2021.

#Bitcoin spent the last 24 hours between 45K and 48K. Corrections to 45K were quickly redeemed, two attempts to go above 48K have also failed, and at the time of writing this, Bitcoin is trading around 47,500. Total Crypto Market capitalization is at $1.450 billion and BTC dominance index of 61.2%.

Stock markets were again falling yesterday; The Dow Jones lost 1.5%, the S&P 500 fell 0.48%, and only the Nasdaq, which had fallen two weeks before, showed a 0.56% gain. Markets held up well throughout the session, but fell towards the close when news broke that the $ 1.9 trillion bailout package was reported, not yet adopted. It was not rejected, but the vote was postponed for next week.

Oil closed below 65, gold and silver lost 2.5% and 3.5% respectively. Oddly enough, this is good for the markets. The creation of uncertainty about the aid package now and its successful adoption next week will provide more positive for the market than if it was just expected to be accepted yesterday.

The crypto market has worked out a priority option - movement in the range 45000-47000. Bitcoin hit a low of around 44100 yesterday, and tested 45K again last night, but these corrections were quickly redeemed. Now Bitcoin is trying to go above 48K for the third time in a day. The price may be holding in a range to comfortably enter new options contracts on Monday. For the same purpose, it can fall below 45K if conditions are favorable for this (for example, if the stock markets open with a strong fall on Monday).

With Bitcoin above 47K, altcoins will rise. I do not expect the growth of everything in a row and the renewal of highs in market capitalization. Interestingly, JPMorgan recommends its clients to invest 1% in Bitcoin (https://www.bloomberg.com/news/articles/2021-02-25/investors-could-add-up-to-1-of-bitcoin-to -mix-jpmorgan-says). Interesting is not so much this fact (not having Bitcoin in your portfolio now is like denying the Internet in the year 2004-2005), and another thing - back in 2017, JP Morgan CEO Dimon stated that Bitcoin is a scam and threatened to fire any employee who will buy it.

In closing, the priority option for the weekend is Bitcoin in the 45000-47000 range, with a possible transition to the previous trading range of 48000-52000. Current movement price movement on daily TF shows a good close above $44K with a third rebound from this area during this week, which makes $44K a psychological barrier for traders in the current time, although that, there`s no strong bullish reaction from this zone yet and if we bear in mind HTF (Higher Time frames) we will see a weak performance from bulls in the current Momentum!! For now, the price ranging between 50/44K below bearish trend from $58K which makes $50K as main resistance for the short term movement, and if bulls breakout this level and close above it, this will help BTC price to push up to $52/ 54K again ( resistance for the mid-term movement) but if they fail and btc breakdown $44K we will see another sell-off to $41K/$38K (Support). We looking for a bounce from this bearish trend line and this zone between 48/49K to $46/44K again for short-term movement. (this point of view will fail if BTC reclaims $56K and close above it daily or weekly.)

Wishing you a great restful weekend ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

House of Representatives passes $1.9tn Covid stimulus package. Thoughts on the market on 01.03.2021.

#Bitcoin spent the weekend quite violently: on Saturday it traded above 47K, yesterday it was looking for a bottom, reaching lows just above 43K, with the opening of markets it switched to growth, and at the time of writing the review it is trading at about 46300. Total Crypto Market capitalization is at $1.425 billion and BTC dominance index of 61.1%

Stock markets opened higher. Oil is back above 65, gold and silver are on the rise, S&P 500 futures and Asian indices. The news of the acceptance of the bailout package, which took place over the weekend, supported the markets, which have been falling for most of the past week. The downside is that after the adoption of the long-awaited aid package, the market has no reason to grow. The rising yields on US bonds, which have been pressing on the markets all last week, have not gone away, so new ideas are needed for the transition to growth.

Bitcoin on Saturday tried to go above 48K, but did not succeed, after which it broke through support at 45K and marked local lows around 43K. With the opening of the market, the main cryptocurrency returned above 45K, but so far it cannot overcome the resistance at 46800.

Ethereum over the past week has dropped by almost 25% and is trading below 1500, but in general, altcoins are holding quite well, the dominance index remains below 62%, there has been no panic drain of altcoins, and on Saturday, while Bitcoin was above 47K, altcoins are still good and growing.

We spoke about it on Saturday and I think that the option is being worked out with keeping the price of Bitcoin as low as possible to comfortably enter new option contracts. In this case, #Bitcoin will move to growth within 1-2 days. Perhaps we will see a trade in the 43-47K range, perhaps we will immediately go to take 48K, I expect a return of Bitcoin above 50K within 7-10 days, as mentioned here (https://t.me/decryptedge/333).

The priority option for today is Bitcoin in the range of 43000-47000, with a possible fixation above 48K with a favorable external background. After being in the zone of extreme greed for a long time, the fear and greed index finally entered the fear zone, reaching a level last seen in September 2020. This means that the market is ready to move to growth.

So in closing BTC still moves below this bearish sub-trend from $58K no breakout it yet, and the main resistance for this trend located at $ 52K if bulls close above it daily this will give a good push for them if they fail to do that this means one thing and this thing is a dump to 44K again and this time probably we will see $40/37K.

Remember that, the person who is obsessed with bullish thought can extract 10000 scenarios for bullish movement and the same with a bearish person. For us, we extract both sides. This market update is an explanation for market movement(not mean buy or sell). Have a blessed afternoon ahead and remember to do your own research; this is not traditional investment of financial advice. In #Cryto expect anything. #decryptedge