Transition
BTC close to the end of the downtrendHello everyone! I'm Jason Nile, and I would like to share my perspective on BTCUSD in the coming months. I'm still learning how to give a thorough analysis, so please leave a comment if you think there are areas in which I can better explain to help you out. Any feedback - positive or negative - will be appreciated. Thank you!
It looks like BTCUSD is on a downtrend, and it is expected that it will go down because it had reached the top of the trend. It is healthy for the prices to drop as markets move in waves. In the coming months, BTCUSD may retest the bottom of the channel as well as the significant support of 42k. It's a great opportunity right now to start loading in while it is nearing the bottom of the channel before it starts going up again.
Yes, based on market sentiments, market fears are high now. This is probably due to the Fed news as well as the rising cases of the Omicron Variant. Rest assured, the media loves to spread FUD and blow news out of proportion, and it's always best to look towards the long term horizon.
As nothing is certain, this analysis is only based on the best case scenario.
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose