$BTC Every day Long’s adherents appear, who picture a powerful rebound immediately at 80k.
When you ask them what the rebound will be due to, they answer because of the graph, because I drew a death star there, and its tip shows upward, which means it will be Long. Or they also like to draw roosters or dogs that look up, thereby supposedly showing a long position. There are powerful guys who claim that there is support here, which means we won’t fall below it, although this support is only in their heads.
There are fans who are looking for a mythical whale or an investor who will save everyone, punish the shorts, and save the longs. They can't think of anything to find solace.
It’s a pity not everyone understands that except ETF funds.
There is such a large whale called “greed”; he really likes to go sharply against the trend and sharply punish sinful long-term souls. How much more time must pass before people begin to understand that Bitcoin is now completely dependent on the US economy?)
At the very beginning, Bitcoin grew due to Satoshi’s idea of free money, freedom of all for all. But as the cryptocurrency industry developed and the price grew, human greed took its toll and there was a rise to 60k, a fall and again a rise, and again a fall. At the moment, the original idea of Bitcoin is being pushed back, now the main idea is not convenience, but simple greed, a simple and quick desired increase in capital. Whether this is good or bad is up to you to judge.
Well, since the BTC ETF was adopted, Bitcoin now reacts sharply and harshly to any US economic data. Especially on the Fed rate, which, as we see, they do not want to quickly lower, but are playing for time, and this is the main catalyst for the growth of BTC. Until the rate is lowered, you can forget about 80k. Now the US economy sets the Trend for BTC, this you must clearly understand.
Write in the comments, do you like it when a few words from the head of the US Federal Reserve at a conference can instantly lower or raise the price of BTC by 2-5-10%?))))
Do you like it when two old elderly Wolves stand, Biden and Trump, and their words determine whether you will be liquidated now or not?)
This is now the reality of BTC trading.
Any global conflict that affects the United States or the World as a whole could drive down the price of BTC. An example for you is Iran - Israel.
So will BTC rise? Will! But not soon, the rate will be lowered and the situation will be more clear to large investors; most often it is they who set the tone for growth or decline.
In the meantime, we will fall and fall.
$BTC On the nose Conflict of Livna - Israel - Iran.
Problems with inflation.
Unemployment.
Elections are just around the corner, no one knows how it will end.
Sales of miners.
ETF outflows.
And a bunch of small factors.
Therefore, if we are a trader, follow the economy, indices, military conflicts, and ETFs.
And you will understand the trend.
Good luck everyone 🍀
If you disagree with something, write in the comments, but immediately with the facts, without water, and dogs on the graphs.