Bitcoin Sellers Took the Lead, Took BTC/USD below 45,000
A continued rise in yields could push the U. Markets typically shake out weak bulls with a drop to former hurdle-turned-support levels before extending bull runs. The newfound resistance was a scaled on Feb. However, they may look to invest on price pullbacks, according to Lifchitz. Subscribe to , Subscribe.
Bitcoin daily chart. Here is one of my favorites that I hold and you can see why an old school equity guy, a value investor to boot, gets a nose bleed from this kind of price ascent:. Matic, previously called polygon, is not a one-off, it is just a good example. To me, I believe these price levels are the upper faces of this mountainous cycle, but many still consider them the foothills.
Bitcoin crash may cause correction in stock market: Mark Mobius
So what can help us know where we are? The all-seeing eye of Google can help.
Here is a chart from Google Trends:. Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved. Bitcoin is the leader and definer of this cycle and its performance will direct the performance of all the other cryptos.
Is Bitcoin Due for a Price Correction?
Volatility is liable to shake me out soon, but it could be days or weeks, perhaps even months before it does — but a week is now a long time in crypto and that in itself is a signal which one can choose to pay attention to. The final indicator is transaction fees. These are now exorbitant.
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This indicates a strong trend: A bullish bounce at the 21 ema zone is usually part of a wave 3. The uptrend seems far from finished with multiple waves 3 still pending. The previous top red box will either create a bearish bounce orange arrows or a bull flag chart pattern grey arrows.
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A reversal should reach the previous bottom blue box where the uptrend restarts blue arrow. A bull flag pattern should see a bullish breakout and continuation green arrow. Ultimately the The current push up could already be a new wave orange but price action must build a bull flag chart pattern grey arrows. A strong bearish reaction orange arrows could indicate an extension of the wave 4 grey via an ABC light blue.
Eventually the uptrend is expected to continue either immediately green arrow or after a pullback blue arrow. Good trading, Chris Svorcik The analysis has been done with the indicators and template from the SWAT method simple wave analysis and trading. Don't miss a thing!
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