There is a possibility for a flash bounce coming up soon. There are major bull divs on the RSI and MACD where the moving averages point upwards. While it is quite possible that we may continue to break downwards due to the death cross on the daily, that happened 8 days since this article. The 4hr would suggest a quick turn around.
Also about the G20, I think the air is more optimistic; Japan is already big on crypto, America already believes its an innovation worth looking into and more nations would soon join. A discussion and implementing new rules can take weeks if not months. But alas, weak hands will still be shaken.
In any case, we still have about 4 days before we hear anything. Enough time to take a quick profit before the hearing. This probably isn't a true reversal though. So my previous 3-4k buy zone still stands.
Also about the G20, I think the air is more optimistic; Japan is already big on crypto, America already believes its an innovation worth looking into and more nations would soon join. A discussion and implementing new rules can take weeks if not months. But alas, weak hands will still be shaken.
In any case, we still have about 4 days before we hear anything. Enough time to take a quick profit before the hearing. This probably isn't a true reversal though. So my previous 3-4k buy zone still stands.
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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.