Bitcoin Weekly Close RED but is this bad ?
Bitcoin, on a TA basis is in a great position now. MACD coming up from under to touch 0 and is still Bullish, PA is above Long Term resistance and still with a lot of support below.
The Danger for Bitcoin right now is more from Sentiment and other Markets.
Gold for instances is showing strength once again as people run back to the stable "store of Value" but, by comparison to crypto, Low profit. But on a large scale Chart, Gold isn't likely to break the Handle of the Cup and Handle pattern it has painted. But never say never. Fundamentals are a major factor and can change anything.
The Crypto Market did not really pull back that much, 5% is nothing really but it is the Emotions that are raw now.."Is another one about to fall" ? And only Time Will tell us that.
But once Sentiment returns positive to Bitcoin, Watch out as this is ready to go....
Watch close..This year and Next year WILL be big for Bitcoin on both TA and Fundamentals...
The Danger for Bitcoin right now is more from Sentiment and other Markets.
Gold for instances is showing strength once again as people run back to the stable "store of Value" but, by comparison to crypto, Low profit. But on a large scale Chart, Gold isn't likely to break the Handle of the Cup and Handle pattern it has painted. But never say never. Fundamentals are a major factor and can change anything.
The Crypto Market did not really pull back that much, 5% is nothing really but it is the Emotions that are raw now.."Is another one about to fall" ? And only Time Will tell us that.
But once Sentiment returns positive to Bitcoin, Watch out as this is ready to go....
Watch close..This year and Next year WILL be big for Bitcoin on both TA and Fundamentals...
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