Smaller time frames look like we're ready to go up a little bit to around $6,800, but just as a short squeeze.
Still waiting to see if we go to $5,500-$5,200.
Wall street and institutions have set themselves up for a huge crypto boom.
1)We have the CBOE bitcoin ETF that has been said to have a 95%+ chance of getting approved by the SEC, which will be the regulated onramp for institutions to get money in (minimum $200,000 buy-in).
2)For retail and mainstream investors there's Bakkt, which will be the safest and highest quality exchange in crypto history, so far, that will be at par with exchanges such as NYSE, CBOE, CME, etc..
Technical analysis will NOT be what starts the next bull run, it'll be wall street and institutions that'll do it by pouring in hundreds of billions of dollars. There is obvious correlation with technicals and price increase, but not always a causation. Fundamental analysis has a greater impact because a lot of crypto traders trade/invest based off news as of now, also because there's low liquidity.
HODL, brothers.
Still waiting to see if we go to $5,500-$5,200.
Wall street and institutions have set themselves up for a huge crypto boom.
1)We have the CBOE bitcoin ETF that has been said to have a 95%+ chance of getting approved by the SEC, which will be the regulated onramp for institutions to get money in (minimum $200,000 buy-in).
2)For retail and mainstream investors there's Bakkt, which will be the safest and highest quality exchange in crypto history, so far, that will be at par with exchanges such as NYSE, CBOE, CME, etc..
Technical analysis will NOT be what starts the next bull run, it'll be wall street and institutions that'll do it by pouring in hundreds of billions of dollars. There is obvious correlation with technicals and price increase, but not always a causation. Fundamental analysis has a greater impact because a lot of crypto traders trade/invest based off news as of now, also because there's low liquidity.
HODL, brothers.
Still could go up and visit $6,800, but might visit $5,200 first.