Market Analysis
Bitcoin is still trading at good levels and has a lot of support between 92,000 and 90,000
From 90,000 to 86,000
Our problem, of course, is not with Bitcoin. Our problem is with the currencies that have fallen by 50% and many currencies have exceeded this percentage
Bitcoin's current acquisition constitutes a negative structure for the decline. We have 58.20% strong resistance and we must not break it until we see 60%. The important support currently is at 56.6%. Breaking it opens the door to a decline to higher levels
Reasons for the recent decline: concerns about stabilizing the US interest rate, and the Justice Department's approval to sell $6.5 billion of Bitcoin. Of course, the approval was made in December last month and most likely the entire quantity was sold, but negative news appears at the time they see fit
The most important question is where is the bull run and the currency season
We are basically in the bull run or how did Bitcoin reach 100,000
When will the currency season be? My answer is very soon and it is possible at any moment and when it starts we will enter a rising wave in currencies In a general bullish wave of 230-259 days, and in the first 30 days of this rise, all the previous declines of correction and fluctuations are erased. There is no bull run without a currency season.
What should we do now:
If you have cash, increase your quantities.
If you do not have it, close the wallet and do not watch the prices during the current period and live your life simply.
Do not forget that we are in a bull market and the bull run, where the market will go, is destined to rise.