Bitcoin has been very unstable this year, probably due to the new Administration.
MIGHT be due to the influx of regulations or government transactions.
MIGHT be due to Demand and Supply changes.
MIGHT be due to the volatility between countries.
Regulatory Worries 🏛:
Fears about stricter rules and crackdowns are making investors jittery.
Profit-Taking 💰:
Some holders are cashing out their gains, which puts downward pressure on prices.
Market Volatility 🎢:
Wild swings in crypto and broader markets are unsettling buyers and sellers.
Tech Troubles & Security Concerns 🔒:
Hiccups with blockchain tech and news of hacks can trigger sell-offs.
Crypto Market Slump 📉:
A broader downturn in the crypto space is dragging Bitcoin's value down.
TECHNICALS:
M Formation as I showed last time and this is the update.
Price<20 but >200MA - This is a CONCERN for the analysis because the 200MA is the Mother of all Moving Averages that Millions of crypto traders and enthusiasts look at.
Target $47,987
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
MIGHT be due to the influx of regulations or government transactions.
MIGHT be due to Demand and Supply changes.
MIGHT be due to the volatility between countries.
Regulatory Worries 🏛:
Fears about stricter rules and crackdowns are making investors jittery.
Profit-Taking 💰:
Some holders are cashing out their gains, which puts downward pressure on prices.
Market Volatility 🎢:
Wild swings in crypto and broader markets are unsettling buyers and sellers.
Tech Troubles & Security Concerns 🔒:
Hiccups with blockchain tech and news of hacks can trigger sell-offs.
Crypto Market Slump 📉:
A broader downturn in the crypto space is dragging Bitcoin's value down.
TECHNICALS:
M Formation as I showed last time and this is the update.
Price<20 but >200MA - This is a CONCERN for the analysis because the 200MA is the Mother of all Moving Averages that Millions of crypto traders and enthusiasts look at.
Target $47,987
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.