Bitcoin: A New Hope
Updated
Bitcoin broke out downwards through 42k. It looks like daily close will be below the 200d MA so right now I'm looking at the next heavy support between 30-35k and also at the 50W ma.
It has been a rough week but this could be very bullish news. The hashribbon is very close to flashing BUY. Last time this happend we had a big price increasement so I will wait for this to happen.
It has been a rough week but this could be very bullish news. The hashribbon is very close to flashing BUY. Last time this happend we had a big price increasement so I will wait for this to happen.
Note
200D MA is now acting as resistance @40kNote
Bitcoin is currently consolidating between 42K and 32K. Bearish scenario: We break through key support level of 32-33k and 30k wich results into a new drop towards 20-25K
Bullish scenario: We go boringly sideways until we go back above the 200D ma
Personal opinion: Fear and greed index super low aswell. This can indicate that this is the bottom of the recent dump. We also have never seen a retest of the previous bullrun All-Time-High this far into a cycle.
(Both scenarios I'm completely fine with because I'm using a longterm DCA strategy. I highly recommend this. Especially if you felt very emotional during the recent dump)
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