Technical perspective :
In regards to Bitcoin we have two daily demand areas and we expect BTC to retrace before the continuation of his massive bull move.
On the Weekly timeframe we have an impulse that still need some momentum and some growth , Going down on the daily it would be perfect to see a retracement to grab some liquidity and continue it's massive movement to the downside.
From a fundamental perspective:
Looking at Bitcoin’s history, it tells the typical story of expansion. When something new is introduced to the world, it is immediately met with doubt. Often ridiculed and even fought against. The mass population is fearing for their status quo and very afraid of change in general. Bitcoin's’ story is no different. The real move is still ahead.
A part of this story is that those who fear and fight progress, on the other hand, are curious and would like to see some profits for themselves but can’t bring themselves to participate.
While doubters try to be right, those who take risks make money. Not every story is a success story, but Bitcoin´s past, present, and in my opinion, future as well is more than rosy.
In each of these success stories comes one specific point that has its tricky part from a psychological perspective and, as such, an extra hurdle on how to participate in a market at that particular point of the trend.
When advancements seem overbought, but the critical mass of investors is not yet on board, the supply is limited, and peer pressure in professional market-making forces governments, institutions, hedge funds, banks, and so forth to participate to have a core holding. Everybody hopes for a retracement to get into the move with relatively low risk, but prices join the runaway train.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
In regards to Bitcoin we have two daily demand areas and we expect BTC to retrace before the continuation of his massive bull move.
On the Weekly timeframe we have an impulse that still need some momentum and some growth , Going down on the daily it would be perfect to see a retracement to grab some liquidity and continue it's massive movement to the downside.
From a fundamental perspective:
Looking at Bitcoin’s history, it tells the typical story of expansion. When something new is introduced to the world, it is immediately met with doubt. Often ridiculed and even fought against. The mass population is fearing for their status quo and very afraid of change in general. Bitcoin's’ story is no different. The real move is still ahead.
A part of this story is that those who fear and fight progress, on the other hand, are curious and would like to see some profits for themselves but can’t bring themselves to participate.
While doubters try to be right, those who take risks make money. Not every story is a success story, but Bitcoin´s past, present, and in my opinion, future as well is more than rosy.
In each of these success stories comes one specific point that has its tricky part from a psychological perspective and, as such, an extra hurdle on how to participate in a market at that particular point of the trend.
When advancements seem overbought, but the critical mass of investors is not yet on board, the supply is limited, and peer pressure in professional market-making forces governments, institutions, hedge funds, banks, and so forth to participate to have a core holding. Everybody hopes for a retracement to get into the move with relatively low risk, but prices join the runaway train.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!