Bitcoin 4hr analysis 1-6-2021
Good morning fellow Bitcoin lovers and welcome back to to the bull show. Bitcoin eclipsed the previous ATH of 34800 set a few days ago and we hit around 35766 over night. I know it is not easy for us to wake up to new ATH every day but I guess it is just something we will have to live with LOL. As we continue our rocket ride towards 40k I wonder when its going to chill? Maybe never? As we continue the trek up the chart I wonder if we will ever come back down to the planet Earth. Mars sure looks pretty this time a year. Lets take a look at the charts.
I mean I heard the new guy in Washington stating that 2k a month may be on the table for Americans. That may or may not be the case. That isnt what Im here to discuss anyways. What Im here to talk about is its effect on Bitcoin. Stimulus money will become disposable income to many Americans and lets face the facts, plenty of Americans wont stash the USD in a savings acct. If you arent spending it on groceries and rent I imagine at least some of the population will be willing to invest in Bitcoin. Even if the market is saturated with new investments. This could keep the us above 30k for the foreseeable future. Nothing is 100% but I could certainly see the bull run extended if people continue buying at these levels.
I believe the current price rise has plenty to do with the most recent stimulus we received. People like to bet on a winner. Bitcoin is clearly a winner at this point and people are throwing money at it like a government program. I believe the market cap got over 650 billion last night. This is huge. Much larger than Visa, Berkshire Hathaway and many many other huge corporations. People keep telling me that this cant last. Blah blah blah. I have been in this industry for 3 years. I know better than most haters that a dip is always one step away. That is why they invented a stop loss. I am going to enjoy every second at 30k+.
We created a new higher high over night. That is a good signal and could extend this run. Especially with stimulus payments flowing into accounts across the US. We have tons of support below us which is fueling the run as well. That perfect storm of stimulus and the halving last year and the breaking of the 2.5 year trend and the breaking of 20k along with institutional buying all played a factor in this bull run. The institutions are likely still buying it up as well because many think we will break 6 figure BTC this year. That remains to be seen. I would love to see it but I will be realistic til the time arrives. Set a stop loss. Thats all there is to it folks. Dont get burnt. Those gains can easily reverse. Ive seen it hundreds of times. So stick with logic and you should be okay. Lets see what the bulls have in store for us this a.m. Have a great day folks and make good choices. Always remember WTFDIK???
TLDR: Stimulus money is likely fueling the rise to 35K+ numbers. 2021 is looking good so far for BTC. Plenty of support below us. Plenty of confidence in the market too.
I mean I heard the new guy in Washington stating that 2k a month may be on the table for Americans. That may or may not be the case. That isnt what Im here to discuss anyways. What Im here to talk about is its effect on Bitcoin. Stimulus money will become disposable income to many Americans and lets face the facts, plenty of Americans wont stash the USD in a savings acct. If you arent spending it on groceries and rent I imagine at least some of the population will be willing to invest in Bitcoin. Even if the market is saturated with new investments. This could keep the us above 30k for the foreseeable future. Nothing is 100% but I could certainly see the bull run extended if people continue buying at these levels.
I believe the current price rise has plenty to do with the most recent stimulus we received. People like to bet on a winner. Bitcoin is clearly a winner at this point and people are throwing money at it like a government program. I believe the market cap got over 650 billion last night. This is huge. Much larger than Visa, Berkshire Hathaway and many many other huge corporations. People keep telling me that this cant last. Blah blah blah. I have been in this industry for 3 years. I know better than most haters that a dip is always one step away. That is why they invented a stop loss. I am going to enjoy every second at 30k+.
We created a new higher high over night. That is a good signal and could extend this run. Especially with stimulus payments flowing into accounts across the US. We have tons of support below us which is fueling the run as well. That perfect storm of stimulus and the halving last year and the breaking of the 2.5 year trend and the breaking of 20k along with institutional buying all played a factor in this bull run. The institutions are likely still buying it up as well because many think we will break 6 figure BTC this year. That remains to be seen. I would love to see it but I will be realistic til the time arrives. Set a stop loss. Thats all there is to it folks. Dont get burnt. Those gains can easily reverse. Ive seen it hundreds of times. So stick with logic and you should be okay. Lets see what the bulls have in store for us this a.m. Have a great day folks and make good choices. Always remember WTFDIK???
TLDR: Stimulus money is likely fueling the rise to 35K+ numbers. 2021 is looking good so far for BTC. Plenty of support below us. Plenty of confidence in the market too.
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