BITCOIN RISK MANAGEMENT #bitcoin #defi #web3 #blockchain
Technical Analysis:
1. Bitcoin failed retest of 100 SMA & 50 SMA resistance again.
2. Bitcoin psychological support seems weak after printing this month's high.
3. In the short term, bears are in control - How long will this continue?
4. If Bitcoin loses this level, the next crucial level of support is at $37,000.
5. Bitcoin need to flips 100 SMA & 50 SMA resistance to support, to give the bulls some fresh air and set up the price action for a push towards a retest of historical 200 SMA resistance.
6. Historically, Bitcoin need to flip 200 SMA resistance to support before any major bull run.
7. Bitcoin 1H, 4H, 1D & Wkly strength indicator still bearish.
Fundamental Analysis:
Repeated invalidation of technical analysis data is due to unfavorable fundamental factors - Fundamentals dictates market conditions.
Fundamental factors currently affecting the market conditions are as follows:
1. Fed's chair Jerome Powell hawkish tone of a 50 basis point hike possible for May causing flash crash in the market.
2. Russia-Ukraine war.
3. Geopolitical issues.
4. High Inflation.
5. Fed's 95 billion dollars qauntitative tighttening from May 4, 2022.
6. Dates to watch out - These are make or mar days for the entire cryptos & equities market.
i. FOMC Meeting 3rd & 4th May 2022.
ii. Jobs Report 06-05-22
iii. Russia "Victory Day" 09-05-22.
1. Bitcoin failed retest of 100 SMA & 50 SMA resistance again.
2. Bitcoin psychological support seems weak after printing this month's high.
3. In the short term, bears are in control - How long will this continue?
4. If Bitcoin loses this level, the next crucial level of support is at $37,000.
5. Bitcoin need to flips 100 SMA & 50 SMA resistance to support, to give the bulls some fresh air and set up the price action for a push towards a retest of historical 200 SMA resistance.
6. Historically, Bitcoin need to flip 200 SMA resistance to support before any major bull run.
7. Bitcoin 1H, 4H, 1D & Wkly strength indicator still bearish.
Fundamental Analysis:
Repeated invalidation of technical analysis data is due to unfavorable fundamental factors - Fundamentals dictates market conditions.
Fundamental factors currently affecting the market conditions are as follows:
1. Fed's chair Jerome Powell hawkish tone of a 50 basis point hike possible for May causing flash crash in the market.
2. Russia-Ukraine war.
3. Geopolitical issues.
4. High Inflation.
5. Fed's 95 billion dollars qauntitative tighttening from May 4, 2022.
6. Dates to watch out - These are make or mar days for the entire cryptos & equities market.
i. FOMC Meeting 3rd & 4th May 2022.
ii. Jobs Report 06-05-22
iii. Russia "Victory Day" 09-05-22.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.