BTC Update 🐏

Happy new year all! As we go into 2021, we think it's important to provide an outlook on Bitcoin and therefore the general state of the market.

We wanted to look at the 4-hour chart and try to provide some key levels to watch over the coming trading weeks. When the price keeps reaching new all time highs, it can often be difficult to know what to look out for.

As can be seen from the chart below, the key levels we believe traders should be looking out for are as follows: 26.2, 22.6 and 19.0.

The main reason we think these will become important levels is due to the increased trading activity that occurred around these price levels.

If a small retracement / consolidation were to happen, it's reasonable to believe that is where price would go to.

We'll continue watching the charts and providing signals / updates accordingly.

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Solid results in our Binance Futures VIP Group over the holidays, in spite of the high volatility of the markets that we've been updating you on, netting our members a nice 10% return 🚀

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Binance Futures
#BTC/USDT Take-Profit target 2 ✅
Profit: 4.5455% 📈
Period: 5 Hours 37 Minutes ⏰

Binance Futures
#BTC/USDT Take-Profit target 1 ✅
Profit: 2.2727% 📈
Period: 2 Hours 20 Minutes ⏰

Binance Futures
#BTC/USDT Take-Profit target 1 ✅
Profit: 2.935% 📈
Period: 15 Minutes ⏰

Friday update for everyone:

As per last week's update, we saw the expected profit taking 2 days ago which brought the bitcoin price down by $5000$. We have compared this with the numbers the market received over the holidays, and we concluded that the price was driven by retail enthusiasm and new energy after the holidays. If the smart money took short positions against Bitcoins over the holidays, then bitcoin is likely to fall more than $10k. This is obviously something that smart money would never want to happen because it would eat into their profits.

As long term bitcoin investors, we remained bullish, but we must be aware of bitcoin data, which suggests that smart money took their current positions when BTC was 3000-4000$ in march. This was the previous low. So right now, they have positioned themselves to take profit. Our BTC balance sheet tool shows us that in the last seven days alone, the smart money positioned themselves with 7 billion $$$ by planning to short BTC and buy Altcoins.

Of course, even with the minor correction, the BTCUSD graph remains an impressive sight:

Quick 6% return in our Binance Futures and BitMex/Bybit VIP Groups yesterday, riding some of the recent volatility in the market. 🚀

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Binance Futures
#BTC/USDT All take-profit targets achieved 😎
Profit: 5.9701% 📈
Period: 1 Hours 19 Minutes ⏰

Last week, the Bitcoin market was bearish, and we expect this week’s sentiments to make it maintain the bearish trend. Already the tool that I rely on to analyze the market is showing the rate of 78.44%. Note that last week the rate was 85.35 and we experienced a bearish, trend. So we expect the currency lean towards the bearish direction. Even though, this does not mean that we buy or sell the currency. Instead, it implies that we may soon get a pump in alts or a dump in the Bitcoin. However, nothing is 100% accurate here. So we must remain cautious until the dollars are released into the market after Biden is inaugurated on Wednesday. The release is likely to make a shift in Cryptos. Lastly, our analysis shows that we are 50% down in volume compared to what we had last week.

Crypto Update 👀

We expect the USD to react sharply to the entry ban that President Biden will be imposing on Non-Us citizens traveling across the border, especially those from Brazil, South Africa, United Kingdom, Ireland, and other 26 countries in Europe affected most by the pandemic. The ban, which is to be effected on Monday, is like the emergency state declared by former president Trump which caused a dip of $3500. So we closely monitor the words the president will be uttering to determine our positions.

Other events that are likely to impact Bitcoin include the large scale tests of the digital currency to be executed by China later in the year.

Lastly, you will need to note that this week our trading tool shows a bearish trend of 62%, while the daily trend is also bearish at 60 %. The hourly analysis is also bearish of 55 %. This could be explained by a slow increase in the USD in the crypto market, which is why Bitcoin prices are getting supported at above $30k. Also, there is an influx of new money into the market by individuals who want to buy Bitcoin. These moneys are contributing to the bearish signals we are getting from the market. Overall, we expect traders going short to experience weekly highs while those that will be taking long positions to experience new lows.

Despite the volatility, we still managed great results from our Binance Futures and BitMex/Bybit VIP Groups this week at 15% profit! 🚀

Reach out to our support team 👇👇

@MYCSupportBot with questions, or head to https://www.mycryptopedia.com/mycsignals to join!

Binance Futures
#BTC/USDT Take-Profit target 1 ✅
Profit: 1.8405% 📈
Period: 33 Minutes ⏰

Binance Futures
#BTC/USDT Take-Profit target 1 ✅
Profit: 1.7442% 📈
Period: 1 Hours 9 Minutes ⏰

Binance Futures
#BTC/USDT Take-Profit target 2 ✅
Profit: 3.4884% 📈
Period: 1 Hours 33 Minutes ⏰