Bitcoin (Bring the world Indide )Ladies and gentlemen, let's talk about the heartbeat of the digital era - Bitcoin. Bitcoin isn't just a currency; it's a symbol of empowerment, decentralization, and financial freedom. Now, some may see recent drops in its value as a cause for concern, but I see it as an opportunity—a chance to strengthen and fortify the foundation of this revolutionary technology.
Bitcoin's importance lies not just in its value, but in its accessibility. As it drops to the 9K gap, it becomes more affordable for everyday people to participate in the future of finance. It's about democratizing wealth and opening doors to those who have been excluded from traditional financial systems.
But remember, this isn't just about the present; it's about the future. The future of crypto is bright, and Bitcoin is at the forefront. As we navigate through these fluctuations, we're not just witnessing history; we're shaping it. The resilience of Bitcoin in the face of adversity is what sets it apart. It's not just surviving; it's thriving.
Now, let's talk about the tactics of the big players. Yes, they may try to manipulate the market for their own gain, but they underestimate the power of the community—the millions of individuals who believe in the potential of Bitcoin. They may try to sow doubt and fear, but we stand strong in our conviction.
So, my friends, let's embrace this moment. Let's learn from it, adapt to it, and emerge stronger than ever. Bitcoin's journey is far from over, and together, we will shape the future of finance. As we navigate through the ups and downs, let's remember one thing: the power of Bitcoin lies not in its price, but in the revolution it represents. Stay strong, stay resilient, and together, we'll build a future that's truly decentralized.
Healthycorrection
Not looking good for total market cap!!!!! We boke the 2 trillion dollar mark that has been holding recently as good support. The next level im watching is the 1.79 (fib 0.5) trillion dollar level which is a very important level for the market as it has acted as both resistance and support all year. I have the ADX DI, Stoch RSI and Chop indicators all flashing signs that we will be testing 1.79k level soon. I am not confident we will hold that level. If we break 1.79 then the levels to watch would be 1.64 trillion (fib 0.618) followed by 1.42 trillion (fib 0.786) To be clear, Im still bullish. I think we will bounce off one of these levels and still reach ATHs. Lets see what happens?
ARKK ETF Big gains in coming monthsARKK ETF is a growth ETF created by Cathie Woods that has grown around 500% since its release in 2015. ARKK ETF stocks are a conglomerate of growth stocks that are identified by the analysts at ARK, the stocks are carefully picked out depending on their ability to produce profits. Since ARK holds a diverse portfolio in a wide range of stocks, it usually follows in the market in terms of price action, if the market is bullish, ARK will most likely be bullish, and vice versa.
I have put together a range of indicators and drawing tools that could help us analyse and even predict the future price movement of the ETF. Using the weekly chart, it is shown that the most recent candlestick has slightly bounced off the 50 MA, which gives us a bullish sentiment on the future price of this asset. P.S note that the most recent candlestick still has 3 days of price action as of the 11th of May, 2021. This means that a lot could change in the candlestick before it is completed.
The next indicator is the Relative Strength Index or the RSI, it is an indicator that helps identify whether the stock is overbought or oversold, this can help determine if a stock is bound to fall or rise in price in the future. We can spot that the RSI indicator is nearing the oversold point meaning that the price could soon start to increase.
The Ichimoku Cloud indicator is still showing a bullish trend and has slightly slowed ever since the price of the ETF dropped remarkably by about half its value at peak.
The asset as of May 11th 2021 is trading at $106.09 per share, the intrinsic value of this asset is said to be $97.6, this means that it is still overpriced and we could see a slight decrease under the line of intrinsic value, which could be a strategic and smart buy point.
There are many more indicators that I have not discussed, but the range of Indicators that I picked from are wide enough to give the reader a good insight of how this asset will trade in the future. Like the post and follow me if you have enjoyed this analysis, much more coming soon.
TraderTH