I continue to provide you all with possible
BTCUSD
analysis and outlook on a monthly basis. The reason is that I want you to stay updated about the market direction.
I looked at Bitcoin from two perspectives;
Fundamentally
- Bitcoin mining difficulty is rising and is currently at an all-time low
- There is a high chance that the current movement is influenced by Bitcoin futures
- Traders are greedy at the moment, there will be a cool-off in the form of pullback
- SEC may no longer be able to delay the ETF spot approval
Technically
- Historical support is now a new resistance
- There is exhaustion on 4H TF
- Dwindling volume
Verdict: We are going to experience a pullback before the continuation of the bull run. This level presents an opportunity for new medium-term and long-term investors to buy Bitcoin.
What are your thoughts about this analysis? Share them with me in the comment box.
If you like my analysis, follow me now and support my idea.
Cheers!
BTCUSD
analysis and outlook on a monthly basis. The reason is that I want you to stay updated about the market direction. I looked at Bitcoin from two perspectives;
Fundamentally
- Bitcoin mining difficulty is rising and is currently at an all-time low
- There is a high chance that the current movement is influenced by Bitcoin futures
- Traders are greedy at the moment, there will be a cool-off in the form of pullback
- SEC may no longer be able to delay the ETF spot approval
Technically
- Historical support is now a new resistance
- There is exhaustion on 4H TF
- Dwindling volume
Verdict: We are going to experience a pullback before the continuation of the bull run. This level presents an opportunity for new medium-term and long-term investors to buy Bitcoin.
What are your thoughts about this analysis? Share them with me in the comment box.
If you like my analysis, follow me now and support my idea.
Cheers!
Follow me now for more.