Welcome back,
In today's blog we will talk about the current market situation, the market looks strong enough putting people to the emotion of FOMO but what are the real facts of the market. Look guys, I am not perfect and stop believing anyone who claims to predict 100% correctly about what is going to happen.
We can never predict, and predictions are predictions that can be right or wrong. There are several factors that are seen and based on which predict what might the market delivers us in coming days and week.
It includes technical analysis, historical performances, news that is floating around the market.
Above, we have shared the screenshot from coingecko for bitcoin. That is the chart for last 24 hours, you can literally tell nothing with 24 hour analysis. What we can see is that bitcoin broke the 44k mark in last 24 hours that is something we have seen few times in last few days.
If bitcoin can break 45k then we can see it going to 48k as that is the next resistance and fill yourself with this knowledge. Resistance are not necessary to be broken but if the resistance are broken after long times we see the price pumping and catching the next resistance.
Well, now let me talk about why this time there are 50-50 chances of market going up or down. Tomorrow is the day when SEC will talk about bitcoin Spot ETF and that can mark the beginning of upsurge or down surge.
Also mark the dates from 5-10 January as that is the time when all the 12 ETF's can get approved and though there is no guarantee but there is one thing we can say for sure.
The market will pump with a positive news by 10th of January, or it will crash with bad news. Let us see what will happen tomorrow and between 5-10th of January. My suggestion is that people should book profit a little by locking a portion of their portfolio.
Share your thoughts and opinions.
Thank you