#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
#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
#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
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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…
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…
Investing in #Cryptocurrencies Is ‘Not Prudent,’ Says New York #Attorney General. Thoughts on the market on 03.02.2021.
#Bitcoin consolidated above 48000, and tried to take 50K, updating local highs above 50200. The first attempt failed, Bitcoin then was pushed back to 49000, at the time of writing this review, #Bitcoin is worth $49770. Total Crypto Market capitalization of $1,508 billion, dominance index 61.0%. The Stock markets rallied yesterday. The Dow Jones added 1.95%, the Nasdaq rose 3.01%, and the S&P 500 climbed 2.38% to close at 3901.82. Oil lost more than 1% and is now trading below 63, while WTI is already below 60, gold and silver continue to decline. The volatility index has decreased, but the growing dollar index, which is already above 91, is not in favor of the markets.
After the adoption of the aid package in the United States, the markets have no new reasons for growth, while inflationary expectations and the threat of a change in monetary policy in this regard do exist. Therefore, for now I am expecting the S&P 500 in the 3800-3900 range. Futures for the S&P 500 are in a slight minus, Asian indices are trading in different directions, oil and gold continue to decline.
#Bitcoin fulfilled yesterday's analysis confidently, gaining a foothold above 48K. It even briefly entered above 50200 level, though it failed to maintain above the psychological level of 50K, everything ended with a rebound to 49K, there will still be attempts; as long as Bitcoin is holding above 48K, the option of moving above 50,000 is a priority. Further to this there is a resistance area at 51500-52000 and at 54800-55000. Today I expect #Bitcoin in the range of 48000-52000.
If Bitcoin goes below 48K (possibly in case of an unfavorable external background), we switch to consolidation mode, and a return above 50K is postponed for several days, but not for long.
The first option is a priority.
Altcoins are growing, capitalization is back above $1.5 trillion with a falling dominance index, Ethererum is back above 1500. The dominance index says that we are also at the end of the market cycle. Read how it works here (https://t.me/decryptedge/291).
On the bad, Bitcoin FUD is possible.
First, regarding the ban on mining in Inner Mongolia. Although this is no longer new news anymore - the topic of "mining ban in China" in my memory was raised in 2017 and 2019. Hash directives and documents with seals were laid out. Secondly FUD is also possible on Tether.
They closed the issue with the claim, as I had previously assumed (https://t.me/decryptedge/331)
Unknown person demanded a ransom of 500 BTC from Tether. Tether said that an unknown person threatened to publish documents that could "harm the Bitcoin ecosystem." The company representatives also added that a fake correspondence appeared on the network between their employee and the Deltec bank, which holds Tether's assets. The content of the letters calls into question the full provision of stablecoin with reserves. This means that they assume a possible leak of information unpleasant for them and play ahead of the curve. If it happens that the information is still made public, the FUD could be inflated. As a reminder, the cryptocurrency exchange Bitfinex and Tether will pay $ 18.5 million to the state of New York in the case of the company's financial transactions related to the loss of $ 850 million.
Thirdly, New York Attorney General Letitia James issued an alert to cryptocurrency investors and a strongly worded warning to industry participants of the “extreme risks” of cryptocurrencies. She also said investing in digital assets is “not prudent.” The Attorney General had a message for industry participants, too. After suing investment application Coinseed and settling an inquiry with Tether and Bitfinex, James said Monday, “We’re sending a clear message to the entire industry that you either play by the rules or we will shut you down.” Source | Coindesk.
#Bitcoin consolidated above 48000, and tried to take 50K, updating local highs above 50200. The first attempt failed, Bitcoin then was pushed back to 49000, at the time of writing this review, #Bitcoin is worth $49770. Total Crypto Market capitalization of $1,508 billion, dominance index 61.0%. The Stock markets rallied yesterday. The Dow Jones added 1.95%, the Nasdaq rose 3.01%, and the S&P 500 climbed 2.38% to close at 3901.82. Oil lost more than 1% and is now trading below 63, while WTI is already below 60, gold and silver continue to decline. The volatility index has decreased, but the growing dollar index, which is already above 91, is not in favor of the markets.
After the adoption of the aid package in the United States, the markets have no new reasons for growth, while inflationary expectations and the threat of a change in monetary policy in this regard do exist. Therefore, for now I am expecting the S&P 500 in the 3800-3900 range. Futures for the S&P 500 are in a slight minus, Asian indices are trading in different directions, oil and gold continue to decline.
#Bitcoin fulfilled yesterday's analysis confidently, gaining a foothold above 48K. It even briefly entered above 50200 level, though it failed to maintain above the psychological level of 50K, everything ended with a rebound to 49K, there will still be attempts; as long as Bitcoin is holding above 48K, the option of moving above 50,000 is a priority. Further to this there is a resistance area at 51500-52000 and at 54800-55000. Today I expect #Bitcoin in the range of 48000-52000.
If Bitcoin goes below 48K (possibly in case of an unfavorable external background), we switch to consolidation mode, and a return above 50K is postponed for several days, but not for long.
The first option is a priority.
Altcoins are growing, capitalization is back above $1.5 trillion with a falling dominance index, Ethererum is back above 1500. The dominance index says that we are also at the end of the market cycle. Read how it works here (https://t.me/decryptedge/291).
On the bad, Bitcoin FUD is possible.
First, regarding the ban on mining in Inner Mongolia. Although this is no longer new news anymore - the topic of "mining ban in China" in my memory was raised in 2017 and 2019. Hash directives and documents with seals were laid out. Secondly FUD is also possible on Tether.
They closed the issue with the claim, as I had previously assumed (https://t.me/decryptedge/331)
Unknown person demanded a ransom of 500 BTC from Tether. Tether said that an unknown person threatened to publish documents that could "harm the Bitcoin ecosystem." The company representatives also added that a fake correspondence appeared on the network between their employee and the Deltec bank, which holds Tether's assets. The content of the letters calls into question the full provision of stablecoin with reserves. This means that they assume a possible leak of information unpleasant for them and play ahead of the curve. If it happens that the information is still made public, the FUD could be inflated. As a reminder, the cryptocurrency exchange Bitfinex and Tether will pay $ 18.5 million to the state of New York in the case of the company's financial transactions related to the loss of $ 850 million.
Thirdly, New York Attorney General Letitia James issued an alert to cryptocurrency investors and a strongly worded warning to industry participants of the “extreme risks” of cryptocurrencies. She also said investing in digital assets is “not prudent.” The Attorney General had a message for industry participants, too. After suing investment application Coinseed and settling an inquiry with Tether and Bitfinex, James said Monday, “We’re sending a clear message to the entire industry that you either play by the rules or we will shut you down.” Source | Coindesk.
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We talked about market cycles when in early January we discussed whether there will be an alt season, it was really a matter of when. It is inevitable, because the standard market cycle assumes that after the growth of Bitcoin, altcoins also grow. TOP tier…
These nonetheless are all short-term movements that do not change the main direction of movement of both Bitcoin and the market as a whole, but can only provide a comfortable level for refueling.
As always wishing you a blessed day ahead. Remember to always do your own research. #decryptedge
As always wishing you a blessed day ahead. Remember to always do your own research. #decryptedge
Shark Tank's Kevin O'Leary Reverses Stance on #Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio. Thoughts on the market as of 03.03.2021
#Bitcoin moved in the range of $47000-49200 during the day. Another attempt to take 50K last night did not lead to success, last night Bitcoin rolled back to 47000, after which it moved to growth and at the time of writing this review is trading at about 48700. Total Crypto Market capitalization is at $1.495 billion, BTC dominance index at 60.8%
Equity markets held the entire session yesterday but fell towards the close. Dow Jones down 0.46%, Nasdaq down 1.69%, S&P 500 down 0.81% to close at 3870.29
There is no new positive, but just enough negative - there have been proposals to adjust the aid package to the economy downward, weak economic data in Europe, growing tension between the United States and China, the possibility of a new round of trade war is becoming more and more real.
US Secretary of State Anthony Blinken made a statement, strange for a diplomat, that one should interact with China from a position of strength. Secretary of the Communist Party of China and the head of the Chinese regulator Guo Shuqing did not make loud statements, but expressed concern about the bubble in the Chinese housing sector, at the same time noting that the American and European markets had lost touch with the real economy and should be corrected, this I agree with him.
Although the breakaway from the real economy is not news for a long time, but an objective reality, the markets have indeed corrected. Oil has returned above 63, gold and silver are at their previous levels, futures for the S&P 500 are showing a slight increase, and Asian indices are also growing.
#Bitcoin failed to take 50K yesterday, which is bad. Not being able to pass the resistance area at 50-52K could send the price towards 43-45K for refueling. On the other hand, #bitcoin found support at 47K, and quickly returned above 48K, and this is in favor of continuing to try to take 50K.
The forecast for returns above 50K within 7-10 days, which was given here (https://t.me/decryptedge/333), remains relevant. Whether Bitcoin does it right away, or once again check the bottom at 43-45K, it does not matter much.
Gary Gensler's appointment to the SEC is due to take place one of these days. We are waiting for news on XRP. Hopefully, Ripple's capabilities are no worse than those of Tether and Bitfinex, which have successfully resolved their issue (https://t.me/decryptedge/331).
In general, interest in cryptocurrencies is growing, which is not surprising in the current economic situation.
Car dealer HGreg (USA and Canada) began accepting payments in cryptocurrencies (https://www.businesswire.com/news/home/20210301005962/en/HGreg-Now-Accepts-Cryptocurrency-Payments), and also announced its intention to store in crypto part of their assets.
Sino-Global Shipping America, which is listed on NASDAQ, also began accepting bitcoin for payment. OLB Group (USA) added crypto payment support for 8,500 US merchants.
PayPal, which entered the crypto market (https://t.me/decryptedge/35) back in October, is going to acquire a custodian (to provide cryptocurrency storage services (https://www.coindesk.com/paypal-to-buy -crypto-custody-firm-curv-sources? amp = 1))
#Bitcoin moved in the range of $47000-49200 during the day. Another attempt to take 50K last night did not lead to success, last night Bitcoin rolled back to 47000, after which it moved to growth and at the time of writing this review is trading at about 48700. Total Crypto Market capitalization is at $1.495 billion, BTC dominance index at 60.8%
Equity markets held the entire session yesterday but fell towards the close. Dow Jones down 0.46%, Nasdaq down 1.69%, S&P 500 down 0.81% to close at 3870.29
There is no new positive, but just enough negative - there have been proposals to adjust the aid package to the economy downward, weak economic data in Europe, growing tension between the United States and China, the possibility of a new round of trade war is becoming more and more real.
US Secretary of State Anthony Blinken made a statement, strange for a diplomat, that one should interact with China from a position of strength. Secretary of the Communist Party of China and the head of the Chinese regulator Guo Shuqing did not make loud statements, but expressed concern about the bubble in the Chinese housing sector, at the same time noting that the American and European markets had lost touch with the real economy and should be corrected, this I agree with him.
Although the breakaway from the real economy is not news for a long time, but an objective reality, the markets have indeed corrected. Oil has returned above 63, gold and silver are at their previous levels, futures for the S&P 500 are showing a slight increase, and Asian indices are also growing.
#Bitcoin failed to take 50K yesterday, which is bad. Not being able to pass the resistance area at 50-52K could send the price towards 43-45K for refueling. On the other hand, #bitcoin found support at 47K, and quickly returned above 48K, and this is in favor of continuing to try to take 50K.
The forecast for returns above 50K within 7-10 days, which was given here (https://t.me/decryptedge/333), remains relevant. Whether Bitcoin does it right away, or once again check the bottom at 43-45K, it does not matter much.
Gary Gensler's appointment to the SEC is due to take place one of these days. We are waiting for news on XRP. Hopefully, Ripple's capabilities are no worse than those of Tether and Bitfinex, which have successfully resolved their issue (https://t.me/decryptedge/331).
In general, interest in cryptocurrencies is growing, which is not surprising in the current economic situation.
Car dealer HGreg (USA and Canada) began accepting payments in cryptocurrencies (https://www.businesswire.com/news/home/20210301005962/en/HGreg-Now-Accepts-Cryptocurrency-Payments), and also announced its intention to store in crypto part of their assets.
Sino-Global Shipping America, which is listed on NASDAQ, also began accepting bitcoin for payment. OLB Group (USA) added crypto payment support for 8,500 US merchants.
PayPal, which entered the crypto market (https://t.me/decryptedge/35) back in October, is going to acquire a custodian (to provide cryptocurrency storage services (https://www.coindesk.com/paypal-to-buy -crypto-custody-firm-curv-sources? amp = 1))
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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…
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…
Shark Tank's Kevin O'Leary too reverses Stance on #Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio. Having previously called the cryptocurrency “garbage,” he has now changed his mind and believes that cryptocurrencies are here to stay. He is also getting used to the volatility of bitcoin and believes that institutional investors are willing to hold through price fluctuations. “I actually think that digital currencies are here to stay,” he said in an interview with CNBC last week. “Most people that are willing to hold them, including institutions over the last 90 days, are willing to deal with the volatility.” O’Leary elaborated: I am fascinated. I’m investing. I’m holding a 3% weighting in it between Ethereum and #bitcoin. The volatility sickens me but I’m getting used to it. “And, finally, I’m starting to think about how do I invest in the infrastructure of mining bitcoin,” Mr. Wonderful added. Source | News.Bitcoin
Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge
Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge
Mark Cuban says 'gold is dead' as Peter Schiff slams bitcoin as 'waste of energy' Called Bitcoin Buyers "stupid people." Thoughts on the market on 04.03. 2021
In the last 24hrs #Bitcoin has consolidated above 50K, reaching a high of $52600. This was followed by a rollback to 50K, then again an increase to 51500 and a rollback to 49100.
At the time of this writing, Bitcoin is worth 49,300. Total Crypto Market capitalization is at $1.518 billion with BTC dominance index of 60.9%.
Stock markets were down again yesterday. Dow Jones Shed 0.39%, Nasdaq Down 2.7%, S&P 500 Down 1.31% To Close At 3819.72 The dollar index rises and again above 91, gold fell by 1700, reaching the level of May 2020, is now trading around 1710, oil shows a slight increase ahead of the OPEC meeting.
The markets are again pressed by the growing yields of US bonds, which, in turn, are growing due to inflationary expectations. These expectations are fully justified. According to Bloomberg, $ 2.9 trillion is in consumer accounts (https://www.bloomberg.com/news/articles/2021-03-03/global-economic-recovery-will-be-driven-by-2-9-trillion-that-consumers-saved) (half in the US). For now, consumers still prefer saving. But, as soon as they begin to curtail the corona psychosis, this money will go to consumption, accelerating inflation. We spoke about this back in August 2020. The Fed is going to face a difficult choice. To react to inflation by raising rates means to crash the markets no worse than in March 2020. Not reacting at all is a big risk for the dollar's status as a world reserve currency. This whole situation is aggravated by the expected 1.9 trillion aid package, which will be considered in the Senate on Friday or Saturday - it is clear that this will increase inflationary expectations.
To our Crypto market review: Bitcoin took 50K, reaching a local high above 52600. After that it pulled back down under the influence of correlation with the falling stock market. More than 20 hours spent above 50K, now back to 49100-49000.
The priority option for today is Bitcoin in the range of 47500-51500. With the fall of the stock market today by 3% or more, we can once again go to 45-46K.
In general, in the medium term, I look forward to the end of the correlation between Bitcoin and the stock market. There is no economic justification for this correlation, and until March 2020 it was practically nonexistent. Moreover, in May-August 2019, the correlation between Bitcoin and the S&P 500 was often inverse (the index falls - Bitcoin rises). I think we will see something similar in the course of 2021.
Interestingly, Peter Schiff, who advocates investing in gold and criticizes Bitcoin, once again called Bitcoin buyers "stupid people." Considering that he said the same thing in March 2020, and Bitcoin has grown 10 times since then, his opinion is not very important to us). This is after Billionaire Mark Cuban joined the gold versus bitcoin debate, siding with crypto as he battled it out with bitcoin critic Peter Schiff on Twitter, saying: "Gold is dead Peter. Move on." Cuban went on: "What we are seeing built w/crypto today is just proof of concept. As tech continues to get better/cheaper/faster there will be new applications and maybe even something that supersedes what we know as crypto today. But Gold won't ever change. Which is why it will die as a SOV [store of value]."
He reminded Schiff that gold was built on technology as well, and those who were better equipped to extract it benefitted.
Former U.S. Commodity Futures Trading Commission Chairman Christopher Giancarlo has invested in crypto-asset and blockchain investment firm BlockTower Capital. Terms weren’t disclosed. Lasry, the co-founder and chief executive officer of Avenue Capital Group, made an investment independent of his firm, according to people familiar with the matter who weren’t authorized to speak on the record. Both Lasry and Giancarlo confirmed the investments, but declined to comment further.
Conclusion - don't be like Peter, be like Christopher.
In the last 24hrs #Bitcoin has consolidated above 50K, reaching a high of $52600. This was followed by a rollback to 50K, then again an increase to 51500 and a rollback to 49100.
At the time of this writing, Bitcoin is worth 49,300. Total Crypto Market capitalization is at $1.518 billion with BTC dominance index of 60.9%.
Stock markets were down again yesterday. Dow Jones Shed 0.39%, Nasdaq Down 2.7%, S&P 500 Down 1.31% To Close At 3819.72 The dollar index rises and again above 91, gold fell by 1700, reaching the level of May 2020, is now trading around 1710, oil shows a slight increase ahead of the OPEC meeting.
The markets are again pressed by the growing yields of US bonds, which, in turn, are growing due to inflationary expectations. These expectations are fully justified. According to Bloomberg, $ 2.9 trillion is in consumer accounts (https://www.bloomberg.com/news/articles/2021-03-03/global-economic-recovery-will-be-driven-by-2-9-trillion-that-consumers-saved) (half in the US). For now, consumers still prefer saving. But, as soon as they begin to curtail the corona psychosis, this money will go to consumption, accelerating inflation. We spoke about this back in August 2020. The Fed is going to face a difficult choice. To react to inflation by raising rates means to crash the markets no worse than in March 2020. Not reacting at all is a big risk for the dollar's status as a world reserve currency. This whole situation is aggravated by the expected 1.9 trillion aid package, which will be considered in the Senate on Friday or Saturday - it is clear that this will increase inflationary expectations.
To our Crypto market review: Bitcoin took 50K, reaching a local high above 52600. After that it pulled back down under the influence of correlation with the falling stock market. More than 20 hours spent above 50K, now back to 49100-49000.
The priority option for today is Bitcoin in the range of 47500-51500. With the fall of the stock market today by 3% or more, we can once again go to 45-46K.
In general, in the medium term, I look forward to the end of the correlation between Bitcoin and the stock market. There is no economic justification for this correlation, and until March 2020 it was practically nonexistent. Moreover, in May-August 2019, the correlation between Bitcoin and the S&P 500 was often inverse (the index falls - Bitcoin rises). I think we will see something similar in the course of 2021.
Interestingly, Peter Schiff, who advocates investing in gold and criticizes Bitcoin, once again called Bitcoin buyers "stupid people." Considering that he said the same thing in March 2020, and Bitcoin has grown 10 times since then, his opinion is not very important to us). This is after Billionaire Mark Cuban joined the gold versus bitcoin debate, siding with crypto as he battled it out with bitcoin critic Peter Schiff on Twitter, saying: "Gold is dead Peter. Move on." Cuban went on: "What we are seeing built w/crypto today is just proof of concept. As tech continues to get better/cheaper/faster there will be new applications and maybe even something that supersedes what we know as crypto today. But Gold won't ever change. Which is why it will die as a SOV [store of value]."
He reminded Schiff that gold was built on technology as well, and those who were better equipped to extract it benefitted.
Former U.S. Commodity Futures Trading Commission Chairman Christopher Giancarlo has invested in crypto-asset and blockchain investment firm BlockTower Capital. Terms weren’t disclosed. Lasry, the co-founder and chief executive officer of Avenue Capital Group, made an investment independent of his firm, according to people familiar with the matter who weren’t authorized to speak on the record. Both Lasry and Giancarlo confirmed the investments, but declined to comment further.
Conclusion - don't be like Peter, be like Christopher.
Bloomberg.com
Consumers Saved $2.9 Trillion During the Pandemic. Their Money Will Drive the Global Recovery
Consumers in the world’s largest economies amassed $2.9 trillion in extra savings during Covid-related lockdowns, a vast cash hoard that creates the potential for a powerful recovery from the pandemic recession.
Good news, but unfortunately not for us. The US IRS has clarified that investors are not required to report purchases of crypto for fiat until the crypto is sold or exchanged. That is,US citizens can safely build up a portfolio in Bitcoin without having any tax obligations, and pay taxes only on what they withdraw or convert to fiat. I think this clarification will increase the number of Americans wanting to get into the topic.
Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge.
Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge.
Not Just #Bitcoin, #Paypal's Vision Involves Central Bank Digital Currencies Too: What You Need To Know. Thoughts on the market on 05.03. 2021
#Bitcoin tried several times to gain a foothold above 50K, but did not succeed, had no option but to move to a decline. 48K support level having been lost, price broke through to 46400. By the time of writing this review, #Bitcoin is worth 47243. Total Crypto Market capitalization is at $1.451 billion and BTC dominance index of 60.1%.
Stocks were down again yesterday. Dow Jones shed 1.11%, Nasdaq fell 2.11%, S&P 500 fell 1.34% to close at 3768.47. Oil following the OPEC meeting updated its annual high and reached levels where it has not been since December 2019, gold continues to fall and now at 1689.
Market participants were disappointed by Fed Chairman Powell. He acknowledged that economic recovery could lead to a surge in inflation (https://www.cnbc.com/2021/03/04/fed-chairman-powell-says-economic-reopening-could-cause-inflation-to-pick- up-temporarily.html).
It is strange to be surprised by such obvious things. If 22% of all dollars in the world have been added to the economy, which not only did not grow, but even somewhat deflated, it is strange to expect a different result. The "holiday of the printing press" will lead to inflation as evident, the corona psychosis was just beginning.
It's a disappointment not because he stated the obvious facts, but because he did not say anything about the actions of the Fed in the current situation. It is understandable that the rates will not be raised, but investors were for sure waiting for statements about actions on bonds (control of the yield curve, Twist operation, etc.). Since none of this happened, the yield on bonds rose again, and the markets continued to fall.
Against the background of external negativity on the crypto market, an alternative version of yesterday's analysis worked out. #Bitcoin went down from the range of 47500-52000 and set a local minimum just above 46K. Bitcoin again brings out correlation with the stock markets, which, although it has no economic basis, last year had been an objective reality.We talked about it yesterday - I think that this year this correlation will end as unexpectedly as it began a year ago.
What happens to Bitcoin in countries where there is a crisis and inflation. We can talk about the medium-term scenarios for Bitcoin here later today or tomorrow.
Today, the priority option is #Bitcoin movement in the 45000-48000 range. If funds continue to fall, a 43K test is possible. For the transition to growth, it is necessary to consolidate above 48K.
The CEO of PayPal said the company is going to create a "super application" for crypto. It will be interesting. For PayPal, it's still early days, but it may change as users are able to use cryptocurrencies to make purchases and crypto trading is available in more markets. Customers will be able to use crypto to pay for goods at 29 million merchant locations by the end of the first quarter, the company said. We shall expound more on this tomorrow during our Weekly Bitcoin101 at 10am EAT. Plug in to our telegram group. Lastly another interesting thing is that the first reading of the law on virtual assets passed in Ukraine. If it is adopted, which is most likely, it will be possible to legally work with cryptocurrency in Ukraine, with a tax of 5%. This bill was introduced back in Nov, 2019. Here is the comprehensive top 10 list of crypto friendly countries: https://t.me/decryptedge/206
It's been a week filled with events and volatility.. Make sure you join in for our Bitcoin101 live zoom and YouTube session. We shall be talking about the Do's and Don'ts of Crypto and relevant updates within our ecosystem. Wishing you a blessed day ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge.
#Bitcoin tried several times to gain a foothold above 50K, but did not succeed, had no option but to move to a decline. 48K support level having been lost, price broke through to 46400. By the time of writing this review, #Bitcoin is worth 47243. Total Crypto Market capitalization is at $1.451 billion and BTC dominance index of 60.1%.
Stocks were down again yesterday. Dow Jones shed 1.11%, Nasdaq fell 2.11%, S&P 500 fell 1.34% to close at 3768.47. Oil following the OPEC meeting updated its annual high and reached levels where it has not been since December 2019, gold continues to fall and now at 1689.
Market participants were disappointed by Fed Chairman Powell. He acknowledged that economic recovery could lead to a surge in inflation (https://www.cnbc.com/2021/03/04/fed-chairman-powell-says-economic-reopening-could-cause-inflation-to-pick- up-temporarily.html).
It is strange to be surprised by such obvious things. If 22% of all dollars in the world have been added to the economy, which not only did not grow, but even somewhat deflated, it is strange to expect a different result. The "holiday of the printing press" will lead to inflation as evident, the corona psychosis was just beginning.
It's a disappointment not because he stated the obvious facts, but because he did not say anything about the actions of the Fed in the current situation. It is understandable that the rates will not be raised, but investors were for sure waiting for statements about actions on bonds (control of the yield curve, Twist operation, etc.). Since none of this happened, the yield on bonds rose again, and the markets continued to fall.
Against the background of external negativity on the crypto market, an alternative version of yesterday's analysis worked out. #Bitcoin went down from the range of 47500-52000 and set a local minimum just above 46K. Bitcoin again brings out correlation with the stock markets, which, although it has no economic basis, last year had been an objective reality.We talked about it yesterday - I think that this year this correlation will end as unexpectedly as it began a year ago.
What happens to Bitcoin in countries where there is a crisis and inflation. We can talk about the medium-term scenarios for Bitcoin here later today or tomorrow.
Today, the priority option is #Bitcoin movement in the 45000-48000 range. If funds continue to fall, a 43K test is possible. For the transition to growth, it is necessary to consolidate above 48K.
The CEO of PayPal said the company is going to create a "super application" for crypto. It will be interesting. For PayPal, it's still early days, but it may change as users are able to use cryptocurrencies to make purchases and crypto trading is available in more markets. Customers will be able to use crypto to pay for goods at 29 million merchant locations by the end of the first quarter, the company said. We shall expound more on this tomorrow during our Weekly Bitcoin101 at 10am EAT. Plug in to our telegram group. Lastly another interesting thing is that the first reading of the law on virtual assets passed in Ukraine. If it is adopted, which is most likely, it will be possible to legally work with cryptocurrency in Ukraine, with a tax of 5%. This bill was introduced back in Nov, 2019. Here is the comprehensive top 10 list of crypto friendly countries: https://t.me/decryptedge/206
It's been a week filled with events and volatility.. Make sure you join in for our Bitcoin101 live zoom and YouTube session. We shall be talking about the Do's and Don'ts of Crypto and relevant updates within our ecosystem. Wishing you a blessed day ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge.
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During yesterday's session #Bitcoin fell to $30,050. The correction was bought out, Bitcoin went up, reached $35400, and during the last 2 hours has declined again to $34000-33800. At the time of this writing, Bitcoin is trading around 34,000. Market capitalization…
Ex-Prudential Securities CEO: Bitcoin ‘Attractive Part of Almost Any Portfolio’. Thoughts on the market on 06.03.2021
#Bitcoin yesterday found support at 46500-46300, moved from these levels to growth, reached highs around 49400 and then moved to a decline. At the time of this writing, Bitcoin is worth 48440. Total Crypto Market capitalization is at $1.444 billion and BTC dominance index of 60.7%
Stock markets, which had been falling all week yesterday after rising on Monday, finally closed with a good plus. The Dow Jones rose 1.85%, the Nasdaq added 1.55%, the S&P 500 rose 1.95% to close at 3841. Oil is close to 70, gold is approaching 1700, the volatility index is decreasing, and this is with the dollar index above 92 (2021 highs). Usually, when the dollar index rises, the markets fall, read about it here (https://t.me/decryptedge/58).
The situation on the crypto market was slightly better than yesterday’s analysis. There were no deep corrections, Bitcoin found support at 46500-46300, and kept it, even when the markets were falling (and they did this all the first half of the day and at the beginning of the American session). Then Bitcoin went up and reached highs around 49400.
There is a retest now of 48000. If #Bitcoin holds this level over the weekend, then we will try 50K again for strength, the first resistance area on this path is 49300-49800. If Bitcoin does not hold 48K, it is likely to go back to 46500.
Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible, from which those who like to put stops and margin/leverage will suffer.
About where and how we are going in the medium term, I will share today.
Altcoins feel confident, the dominance index is 60.7%, with a stable #Bitcoin above 48K, they can show good growth over the weekend and drive the market capitalization above $1.5 trillion. With Bitcoin in the 46500-48000 range, altcoins will grow selectively. Altcoins to the dollar will sooner or later rise (not now, after fixing above 50K), but alts to Bitcoin with such an index of dominance, I would not rise. .
I love this, In an interview yesterday with Yahoo Finance, Wall Street veteran George Ball, the former CEO of Prudential-Bache Securities, suggested cryptocurrencies are a good addition to nearly any investment portfolio. “The investing public right now is worried—and the professional investors are worried—that the Fed is behind the curve,” Ball said. “That the amount of stimulus envisioned is perhaps greater than that which would be helpful over the next year or two to the economy.”
With that let me wish a blessed weekend ahead and stay put for the write up About Bitcoin's mid-term prospects. Remember to always do your own research. This ought not to be taken as traditional investment advice. #decryptedge
#Bitcoin yesterday found support at 46500-46300, moved from these levels to growth, reached highs around 49400 and then moved to a decline. At the time of this writing, Bitcoin is worth 48440. Total Crypto Market capitalization is at $1.444 billion and BTC dominance index of 60.7%
Stock markets, which had been falling all week yesterday after rising on Monday, finally closed with a good plus. The Dow Jones rose 1.85%, the Nasdaq added 1.55%, the S&P 500 rose 1.95% to close at 3841. Oil is close to 70, gold is approaching 1700, the volatility index is decreasing, and this is with the dollar index above 92 (2021 highs). Usually, when the dollar index rises, the markets fall, read about it here (https://t.me/decryptedge/58).
The situation on the crypto market was slightly better than yesterday’s analysis. There were no deep corrections, Bitcoin found support at 46500-46300, and kept it, even when the markets were falling (and they did this all the first half of the day and at the beginning of the American session). Then Bitcoin went up and reached highs around 49400.
There is a retest now of 48000. If #Bitcoin holds this level over the weekend, then we will try 50K again for strength, the first resistance area on this path is 49300-49800. If Bitcoin does not hold 48K, it is likely to go back to 46500.
Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible, from which those who like to put stops and margin/leverage will suffer.
About where and how we are going in the medium term, I will share today.
Altcoins feel confident, the dominance index is 60.7%, with a stable #Bitcoin above 48K, they can show good growth over the weekend and drive the market capitalization above $1.5 trillion. With Bitcoin in the 46500-48000 range, altcoins will grow selectively. Altcoins to the dollar will sooner or later rise (not now, after fixing above 50K), but alts to Bitcoin with such an index of dominance, I would not rise. .
I love this, In an interview yesterday with Yahoo Finance, Wall Street veteran George Ball, the former CEO of Prudential-Bache Securities, suggested cryptocurrencies are a good addition to nearly any investment portfolio. “The investing public right now is worried—and the professional investors are worried—that the Fed is behind the curve,” Ball said. “That the amount of stimulus envisioned is perhaps greater than that which would be helpful over the next year or two to the economy.”
With that let me wish a blessed weekend ahead and stay put for the write up About Bitcoin's mid-term prospects. Remember to always do your own research. This ought not to be taken as traditional investment advice. #decryptedge
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What is the Dollar Index? 💡Quote of the Day💡
“You never know what kind of setup market will present to you, your objective should be to find an opportunity where the risk-reward ratio is best.”
– Jaymin Shah ✒️
Recently, the #DollarIndex has been frequently…
“You never know what kind of setup market will present to you, your objective should be to find an opportunity where the risk-reward ratio is best.”
– Jaymin Shah ✒️
Recently, the #DollarIndex has been frequently…
About #Bitcoin's mid-term prospects.
I was supposed to post this yesterday, the picture nonetheless has not changed much since morning, #Bitcoin has tested the upper border of the range and is trying to gain a foothold above 48K. If the attempt is successful, then there are chances of continued growth. Most likely expect a return to the previous range more likely.
All these are short-term movements that do not really matter. Much more interesting is the topic of where Bitcoin will go in the next 4-6 weeks.
Option 1.
Movement in a wide range of 43000-55000 with possible spills up to 40K and correction up to 57-58K. Looking at a time frame of 2-3 weeks, then move to new highs. Like it was between 30 and 40K in January. Or between 9000 and 10500 in June-July 2020.
Option 2.
ATH update within 7-10 days, fixing above 55K.
Option 3
Departure of Bitcoin below 43K with consolidation.
In favor of option 2 - the general situation in the economy, the growth of inflationary expectations, the interest of large players - these are the very reasons why Bitcoin now costs almost 10 times more than in March 2020. Everything I talked about with Bitcoin at 11K
Not in favor of option 2 - correlation with the stocks, which, although it has no basis, is an objective reality, and uncertainty about the impact of inflation on the stock market. The prospects for option 2 will improve dramatically if the stocks grow as well. I would say that with the S&P 500 above 3900, Option 2 has virtually no alternatives.
Option 3 is in favor of a possible strong fall in stocks with the continuing correlation between Bitcoin and the S&P 500.
Not in favor of option 3 - the interest of large players. Here are the public companies that bought Bitcoin. By the way, Microstrategy got some more after that, we talked about it during our weekly Bitcoin101. Microstrategy and Tesla have $ 3.5 billion
In the event of a fall in stocks, we will have two options:
Sell Bitcoin in the red, admitting that they are losers, and further collapse their shares.
Or buy more, improving the entry price, and highlight it publicly as much as possible, stating that this is just the beginning. The result is growth of Bitcoin up as well as the stocks. A couple of billions are enough for this, which is not a problem for them at all. Know what awaits at the FED.
Which option do you think they will choose? I am referring here to traditional wall street market players/traders and investors.
Do not forget about the options that were taken below 45K on Monday, and under which the price was pushed down last weekend. They were obviously not taken there in order to sell them at 30K.
With all that said, I think that there may be corrections below 43K. On a thin weekend market and below 40K, it is quite possible to go after the stops of marginals. But I see a consolidation below 43K unlikely. As of writing this #Bitcoin is approaching from the minor support levels at $46K/45K
If Bulls fail to protect it and bears overcome them and break down these levels, the next support will be at $43/40K and you can buy from this zone with a 10% of your capital.
And I consider option 1 as a priority option.
The contradiction between the uncertainty on the stocks, with which the correlation, and the actions of large players who will protect their investments, the powerful February rally, which hints at the need for consolidation, suggests that this option will be the most likely.
I will prioritize them as follows: 1-2-3.
But in case the stocks move to growth next week, option 2 becomes the priority.
This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏. #Decryptedge.
I was supposed to post this yesterday, the picture nonetheless has not changed much since morning, #Bitcoin has tested the upper border of the range and is trying to gain a foothold above 48K. If the attempt is successful, then there are chances of continued growth. Most likely expect a return to the previous range more likely.
All these are short-term movements that do not really matter. Much more interesting is the topic of where Bitcoin will go in the next 4-6 weeks.
Option 1.
Movement in a wide range of 43000-55000 with possible spills up to 40K and correction up to 57-58K. Looking at a time frame of 2-3 weeks, then move to new highs. Like it was between 30 and 40K in January. Or between 9000 and 10500 in June-July 2020.
Option 2.
ATH update within 7-10 days, fixing above 55K.
Option 3
Departure of Bitcoin below 43K with consolidation.
In favor of option 2 - the general situation in the economy, the growth of inflationary expectations, the interest of large players - these are the very reasons why Bitcoin now costs almost 10 times more than in March 2020. Everything I talked about with Bitcoin at 11K
Not in favor of option 2 - correlation with the stocks, which, although it has no basis, is an objective reality, and uncertainty about the impact of inflation on the stock market. The prospects for option 2 will improve dramatically if the stocks grow as well. I would say that with the S&P 500 above 3900, Option 2 has virtually no alternatives.
Option 3 is in favor of a possible strong fall in stocks with the continuing correlation between Bitcoin and the S&P 500.
Not in favor of option 3 - the interest of large players. Here are the public companies that bought Bitcoin. By the way, Microstrategy got some more after that, we talked about it during our weekly Bitcoin101. Microstrategy and Tesla have $ 3.5 billion
In the event of a fall in stocks, we will have two options:
Sell Bitcoin in the red, admitting that they are losers, and further collapse their shares.
Or buy more, improving the entry price, and highlight it publicly as much as possible, stating that this is just the beginning. The result is growth of Bitcoin up as well as the stocks. A couple of billions are enough for this, which is not a problem for them at all. Know what awaits at the FED.
Which option do you think they will choose? I am referring here to traditional wall street market players/traders and investors.
Do not forget about the options that were taken below 45K on Monday, and under which the price was pushed down last weekend. They were obviously not taken there in order to sell them at 30K.
With all that said, I think that there may be corrections below 43K. On a thin weekend market and below 40K, it is quite possible to go after the stops of marginals. But I see a consolidation below 43K unlikely. As of writing this #Bitcoin is approaching from the minor support levels at $46K/45K
If Bulls fail to protect it and bears overcome them and break down these levels, the next support will be at $43/40K and you can buy from this zone with a 10% of your capital.
And I consider option 1 as a priority option.
The contradiction between the uncertainty on the stocks, with which the correlation, and the actions of large players who will protect their investments, the powerful February rally, which hints at the need for consolidation, suggests that this option will be the most likely.
I will prioritize them as follows: 1-2-3.
But in case the stocks move to growth next week, option 2 becomes the priority.
This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏. #Decryptedge.