SCALP Update📈 Bitcoin BTCUSD 4h
Hi Traders and Investors
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
For those interested in the cryptocurrency Bitcoin - here's my view for the IMMEDIATE TERM, in other words, a scalping update.
In other markets :
Ethereum is testing crucial support
XRP is losing the mini rally gains
Only a few altcoins are in the green today
Similarly, most major altcoins are showing signs of more losses. ETH is struggling to stay above USD 1,150. XRP is now moving lower towards USD 0.30. ADA / Cardano could dive towards the USD 0.40 support zone . Meanwhile in other cryptocurrency news , the world has been shocked by the LUNA crash and even the SEC government officials are now investigating this liquidity drain. Hacktivist group Anonymous has vowed to bring Do Kown's crimes to light, founder of Terra and Luna . FTX CEO Sam Bankman has also said that many crypto exchanges are "secretly bankrupt".
There are also other factors to consider globally pointing towards economic strain across the market, meaning it might not be time to call bullish just yet. With inflation at all time highs, the ongoing war in Ukraine and the price of commodity oil and gas sky-rocketing, talks of recession is whispered in conversation amongst entrepreneurs and businessmen like Elon Musk who has been cutting down staff at Tesla in apparent anticipation of a recession. A monkeypox outbreak is also looming around each corner, and we can't help but wonder if we are heading towards another March 2020. You have to ask yourself, do all of these things seems bullish or bearish from a macro perspective? Unfortunately, it rarely happens that a major altcoin by market cap will rally when the rest of the market is trading lower.
What is your analysis on BTC ?
_________________
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CryptoCheck
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
For those interested in the cryptocurrency Bitcoin - here's my view for the IMMEDIATE TERM, in other words, a scalping update.
In other markets :
Ethereum is testing crucial support
XRP is losing the mini rally gains
Only a few altcoins are in the green today
Similarly, most major altcoins are showing signs of more losses. ETH is struggling to stay above USD 1,150. XRP is now moving lower towards USD 0.30. ADA / Cardano could dive towards the USD 0.40 support zone . Meanwhile in other cryptocurrency news , the world has been shocked by the LUNA crash and even the SEC government officials are now investigating this liquidity drain. Hacktivist group Anonymous has vowed to bring Do Kown's crimes to light, founder of Terra and Luna . FTX CEO Sam Bankman has also said that many crypto exchanges are "secretly bankrupt".
There are also other factors to consider globally pointing towards economic strain across the market, meaning it might not be time to call bullish just yet. With inflation at all time highs, the ongoing war in Ukraine and the price of commodity oil and gas sky-rocketing, talks of recession is whispered in conversation amongst entrepreneurs and businessmen like Elon Musk who has been cutting down staff at Tesla in apparent anticipation of a recession. A monkeypox outbreak is also looming around each corner, and we can't help but wonder if we are heading towards another March 2020. You have to ask yourself, do all of these things seems bullish or bearish from a macro perspective? Unfortunately, it rarely happens that a major altcoin by market cap will rally when the rest of the market is trading lower.
What is your analysis on BTC ?
_________________
👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎
👍Hit like & Follow 🔔
We thank you for your support !
CryptoCheck
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