Greetings to all the readers of this great platform, especially the readers of this great #ProjectHOPE community, in this opportunity I want to share with you information regarding the behavior of BTC in the current market, taking into consideration that it managed to get out of its accumulation zone at the time of overcoming that ascending triangle, exceeding 45k in terms of the market price, and giving a break to investors and users of cryptocurrencies.
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The BTC was a long time in a descending channel pronounced, which generated a lot of panic in the market, thinking that it was a correction like 2018 or worse than that, in spite of this, the BTC endured the market by losing only half of their value in the market, for which it has been considered as a correction wide, with an area of accumulation pronounced to be able to recover the strength lost in the market.
The accumulation zone was apparently already overcome in the first quarter of the year, reaching a second step where you have to grab oxygen again to be able to increase its strength, through new investors who acquire BTC at a more accessible price, and performing the expected behavior in the market.
 The image used is from Public Domain, Author: Binance |
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As you can see in the graph shown above, BTC came to be over 48k in terms of its price in the market, but with the great momentum it made to overcome the resistance of 45k, it was evident that it lost at the time the strength it had to exceed that price, so it is necessary to make a small correction and capture investment.
That is what happened in the market today, then you get to the 48k was slowly losing the strength that it had in the market, and its price, which is already performing the fix relevant for support in the 44k, with this process to attract investors again recovering its price, it is only a matter of waiting for the market to tweak its behavior.
Greetings @chucho27 ❤️💕
I think there's high chance we experience more bullish session starting from this month since the value of BTC hasn't dipped to $38k unlike how it used to do before.. Or what's your view about this?
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕❤️
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Hello my friend.
BTC currently already has a new support above 44k, so it is difficult to see it below that price, in case that happens, we would be facing a really negative scenario for everyone.
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hello @chucho27,
in my view BTC has not yet made the full correction that is expected of it. all of us who lived through the market crash of 2017 know that when a bull run as impressive as the one we experienced last year occurs, the price drop is likely to be just as large.
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hello @ chucho27
A very explicit publication of the behavior of Bitcoin where we can certainly expect that it can cross the 50k barrier in a very short time, this will certainly boost the crypto market a lot.
Thank you very much for sharing
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Greetings @chucho27,
Wonderful explanation and recap from your side
I think BTC will soon cross 50k
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the rejection level was also 200 DMA. Was going to be significant resistance anyway. I do feel that Bitcoin will break this resistance in the coming week to start trading above $50k.
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Hello my friend.
I share your idea, it is a strong resistance the 50k of the BTC price, but in the coming days we will be watching how it overcomes it, I think the recovery of BTC is already a fact.
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Very good recap of the last months! I am extremly bullish on BTC long term but it is still very ineresting to dicuss and know what is happening on a smaller scale!
Great read :)
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Hello my friend.
At the present time, we are considering that it is facing a recovery of its value, and possible upward path, where it faces several resistances in which you can get some profit from trading.
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