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MihaiDaniel
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bitcoin
needs to bounce back above the support area at $63,350, if it manages to do that the next destination is $67,400
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MihaiDaniel
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Is all time high for bitcoin still in play this week? Yes it is ! Is 100.000$ a target for 2024? I would say let’s wait and see if bitcoin can break 80.000$ first !
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What are pullbacks in an uptrend? Simply put, why does the market have corrections while it is on the rise? Imagine a mountain you are climbing. You will not always climb in a straight line. You will have moments where you will stop to rest or even descend a bit before resuming your ascent. In the investing world, these small dips in an overall uptrend are called pullbacks. What is a pullback? A pullback is a temporary drop in the price of an asset (such as a stock, cryptocurrency, or stock index) in a general uptrend. It is like a pause or a small correction before the price resumes its ascent. Why do pullbacks occur? •Profit taking: When the price of an asset rises a lot, some investors decide to sell to secure their profit. This may lead to a temporary drop in price. •Market Sentiment: Negative news, economic uncertainty or other factors can affect investor sentiment and cause them to sell, causing a pullback. •Technical fixes: Sometimes the price of an asset rises too quickly and "overheats". A pullback can be a way for the market to cool off. Why are pullbacks important? •Buying opportunities: Pullbacks can provide opportunities for investors to buy an asset at a lower price than before the dip, with the hope that the price will continue to rise. •Trend Validation: A pullback that is followed by a resumption of the uptrend can confirm that the trend is still intact. •Identifying Support Levels: By observing the levels at which price stops during a pullback, investors can identify potential support levels for the future. How to spot a pullback? •Graphical analysis: Look at the price chart of an asset. A pullback will look like a small dip in a general uptrend. •Technical indicators: There are a lot of technical indicators that can be used to identify potential pullbacks, such as trend lines, moving averages or oscillators. Important: Identifying and exploiting pullbacks requires knowledge and experience in technical analysis. There is no guarantee that a pullback will be followed by a resumption of the uptrend.
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From $65,000, bitcoin pumped like crazy for 6 days, the most intense in the last 36 hours, tomorrow the madness of #Binanceblockchainweek begins, where the entire crypto planet gathers from small to large. ATH possible tonight 🥂
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At this moment #bitcoin sucks a lot of liquidity, some sell to collect the profits, others buy as much as they can, for Altcoins a little patience please, their time is coming too 💥
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Crypto sector is again very close to euphoria phase, is web3 going to get more adoption? Does market really need over 100.000 kind of utility tokens? Is it really going to make a difference if Trump wins the election? And after the euphoria is over what we will do ?
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