Bitcoin Update
So far, the price is still respecting the support level of $65.2k region. This area is still having confluent with the lower line of previously anticipated support level.
Yesterday's drop mainly because of the FUD we see all over the capital market. Main catalyst were the increase of bond's yields and the US government sell test of the BTC from Silkroad.
I'm fully aware of this action but in my opinion, the US gov potential selling won't occur in the bulk order as it's more likely the US gov will sell it partially. So, this won't be a big deal of course.
The increase of bond's yield is also the same thing as it's a must and only be the temporary action from the investors as if the capital market drop, they will flow their money again into the riskier asset as the possible return is more tempting.
What I'm seeing right now is this market is losing volume and the liquidity. So, a little FUD or good news can affect the market more sensitive.
Based on the technical analysis, we are starting to see a hidden bullish divergence as possible continuation factor.
Another important thing is the stablecoin supply is now reaching $140+ billion which is waiting for the bottom to form and I'm pretty sure this stablecoin will soon flowing back to crypto market.
A dip is for buying, not for shorting.
I'm thinking about feature that can give our community valuable thing and help you all to optimized this bull market cycle. Does anyone have any idea?
