Hey guys, as you can see Bitcoin is consilidating between $47.000 (Weekly 50 MA level) and $50.000. The weekly 50 MA is a very strong support here, et the end of this summer this was the turning point for the price. I think this could be another buying opportunity on long term because the upcoming inflation pressure would be a positive impact on the bitcoin price. The upcoming USA CPI today will cover up how big inflation pressure is on the market.
On long term I am convinced we will recover the 55.000 - 60.000 area and we could see new ATH-s int the next few months.
Everybody feels how big is the inflation and its impact on the market (price increasing, money devaluation, enourmous money printing, etc.), so it is inevitable to go higher.
What's your opinion?
On long term I am convinced we will recover the 55.000 - 60.000 area and we could see new ATH-s int the next few months.
Everybody feels how big is the inflation and its impact on the market (price increasing, money devaluation, enourmous money printing, etc.), so it is inevitable to go higher.
What's your opinion?
