Bitcoin etf trending sideways. GOOD SALE PRICE.
With only a technical analysis and following the current state of economic conditions. Their is too much uncertainty in the market currently, a lot of companies have taken big hits. My goal is to redistribute funds in defensive stocks and other derivatives to protect and grow my money in this type of market. That mission started with bitcoin ETF, I had my eye on bitcoin ETF since it’s IPO. However the risk was what’s going to happen with cryptocurrency as a whole. They’re still in court so as an investor there is a high risk of uncertainty.
After setting a few trend lines and possible trend directions, I came to the conclusion that the worst of The Bitcoin ETF sell off is behind us, & indecision will be more in control for the most part. after the sell off that erased a little more than half of its stock price value, the Bitcoin ETF began to slightly edge in a bullish direction, Notice the arrows & how the Bollinger bands are sloping above the trend lines, pushing towards former highs however after falling from previous support levels the Bitcoin ETF seems to be struggling to breakthrough the resistance, it just resting right under. As long as the bitcoin ETF can hold it’s current support levels in this current economic state, a recovery is more than likely. However if it cannot break past it’s former support levels another sell off is likely as well. due to the uncertainty and high volatility I don’t see it as a defensive stock rather more a growth stock. I see Bitcoin ETF trending sideways for a while, between the crypto court cases and current economic conditions; redistributing funds into the ETF to protect my money might not be the best idea. However for someone with more risk tolerance, $25 and under is clearance prices in a long position.
After setting a few trend lines and possible trend directions, I came to the conclusion that the worst of The Bitcoin ETF sell off is behind us, & indecision will be more in control for the most part. after the sell off that erased a little more than half of its stock price value, the Bitcoin ETF began to slightly edge in a bullish direction, Notice the arrows & how the Bollinger bands are sloping above the trend lines, pushing towards former highs however after falling from previous support levels the Bitcoin ETF seems to be struggling to breakthrough the resistance, it just resting right under. As long as the bitcoin ETF can hold it’s current support levels in this current economic state, a recovery is more than likely. However if it cannot break past it’s former support levels another sell off is likely as well. due to the uncertainty and high volatility I don’t see it as a defensive stock rather more a growth stock. I see Bitcoin ETF trending sideways for a while, between the crypto court cases and current economic conditions; redistributing funds into the ETF to protect my money might not be the best idea. However for someone with more risk tolerance, $25 and under is clearance prices in a long position.