Bitcoin / TetherUSShort
Tulip mania and $30k bitcoin! What to expect next?🙀
Many peoples are shocked by such a strong and rapid rise in BTC, but Bitcoin loves to surprise everyone.
There was no reason for such growth, however, as Sir Newton said, "I can calculate the movement of celestial bodies, but not the madness of the crowd."
The Fear and Greed Index speedometer went from fear (42) to greed (65) in a few days 🧨
It should be remembered that fundamental problems in world economy have not gone away, central banks are raising rates and the "printing press" still does not smell at all.
Recently, US Ministry of Finance has entered market with borrowings + its being helped by Fed and ECB with their balance sheet cleanups.
And what about technique ⚙️
Bitcoin exited “wedge” up impulsively on low volume.
Growth without a retest of key levels, so it would be logical see a return to
27K level on a retest + at this level there is the main liquidity.
🫡 Ok, but what to do?
At the moment, there is no reason for a sustainable rally in crypto.
If a week ago the “fear and greed index”, which moved into the fear zone, was still speaking in favor of growth, now it is already in greed, which means that the growth potential is not so great.
It's not worth it to go into medium-term and long-term perhaps now, and I think that we'll buy BTC lower.
🎯 Targets for a set of medium-term long positions: $23,400, $20,000.
P.S. 🧙🏻
Historically, BTC has always walked alongside Nasdaq, but with a higher Beta.
Nasdaq and BTC have gone their separate ways in recent months.
Now Nasdaq is already turning down after quarterly expiration of options, all mammoths are heavily overbought and need to be corrected.
Even if BTC meets the falling index, potential for growth is not so great (but anything can happen).
P.P.S.
If the idea of shorting BTC has entered your head - drive it away!
Mr. Market is very fond of catching shorts and then watching them buy back their shorts at a higher price 😼
Shorting is mathematically unprofitable.
Shorting Bitcoin is economically and mathematically unprofitable!
But if you want to find more ideas in great companies with high growth potential, welcome to the profile 🎩
There was no reason for such growth, however, as Sir Newton said, "I can calculate the movement of celestial bodies, but not the madness of the crowd."
The Fear and Greed Index speedometer went from fear (42) to greed (65) in a few days 🧨
It should be remembered that fundamental problems in world economy have not gone away, central banks are raising rates and the "printing press" still does not smell at all.
Recently, US Ministry of Finance has entered market with borrowings + its being helped by Fed and ECB with their balance sheet cleanups.
And what about technique ⚙️
Bitcoin exited “wedge” up impulsively on low volume.
Growth without a retest of key levels, so it would be logical see a return to
27K level on a retest + at this level there is the main liquidity.🫡 Ok, but what to do?
At the moment, there is no reason for a sustainable rally in crypto.
If a week ago the “fear and greed index”, which moved into the fear zone, was still speaking in favor of growth, now it is already in greed, which means that the growth potential is not so great.
It's not worth it to go into medium-term and long-term perhaps now, and I think that we'll buy BTC lower.
🎯 Targets for a set of medium-term long positions: $23,400, $20,000.
P.S. 🧙🏻
Historically, BTC has always walked alongside Nasdaq, but with a higher Beta.
Nasdaq and BTC have gone their separate ways in recent months.
Now Nasdaq is already turning down after quarterly expiration of options, all mammoths are heavily overbought and need to be corrected.
Even if BTC meets the falling index, potential for growth is not so great (but anything can happen).
P.P.S.
If the idea of shorting BTC has entered your head - drive it away!
Mr. Market is very fond of catching shorts and then watching them buy back their shorts at a higher price 😼
Shorting is mathematically unprofitable.
Shorting Bitcoin is economically and mathematically unprofitable!
But if you want to find more ideas in great companies with high growth potential, welcome to the profile 🎩
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