Market Overview and Bitcoin Price Analysis Short-Term (28/12)
BTC Technical Analysis
BTC continues sideways around 16500 - 17000
It is expected that the price will soon break this zone. The condition to move forward to the 17200 zone is about 70%.
The current strategy favors short around 17200 and long on BTC or Altcoins.
📈Long:
Entry: 16600
Stoploss: 16500
Target: 16900 - 17200
📉Short: Price structure has changed so short strategy will be different from last week
Entry: 17250
Stoploss: 17800
Target: 16000 or deeper
Market Overview
Ever since crypto exchange FTX crashed and unexpectedly declared bankruptcy a month ago, traditional bankers have had the opportunity to mention the bad things they have long thought about “money.” electronic".
Without even waiting for the FTX event to happen, Jamie Dimon, CEO of the world's largest bank JP Morgan, frankly criticized this new playground in an interview with Les Echos earlier.
“Cryptocurrencies were never money, but chips,” he said. In many cases, it appears to be a decentralized Ponzi scheme. It's a casino and even in some cases a scam. Its development shocked me!"
Many leaders of French banks also do not hesitate to condemn this virtual currency. Philippe Heim, Chairman of the Board of Directors of the French Postal Bank (La Banque Postale), during a conference organized by the French Banking Supervisory Authority in early December, criticized that: “Cryptocurrency is pure speculation. Investing in these assets does not represent any positive contribution to the real economy."
For banks, the "crypto winter" has been going on for almost a year now since the bitcoin and other alt-cryptocurrency markets started taking a bad turn. While crypto players like FTX dream of challenging the traditional financial system, the system has so far proved to be resilient with legitimacy and trustworthiness.
BTC continues sideways around 16500 - 17000
It is expected that the price will soon break this zone. The condition to move forward to the 17200 zone is about 70%.
The current strategy favors short around 17200 and long on BTC or Altcoins.
📈Long:
Entry: 16600
Stoploss: 16500
Target: 16900 - 17200
📉Short: Price structure has changed so short strategy will be different from last week
Entry: 17250
Stoploss: 17800
Target: 16000 or deeper
Market Overview
Ever since crypto exchange FTX crashed and unexpectedly declared bankruptcy a month ago, traditional bankers have had the opportunity to mention the bad things they have long thought about “money.” electronic".
Without even waiting for the FTX event to happen, Jamie Dimon, CEO of the world's largest bank JP Morgan, frankly criticized this new playground in an interview with Les Echos earlier.
“Cryptocurrencies were never money, but chips,” he said. In many cases, it appears to be a decentralized Ponzi scheme. It's a casino and even in some cases a scam. Its development shocked me!"
Many leaders of French banks also do not hesitate to condemn this virtual currency. Philippe Heim, Chairman of the Board of Directors of the French Postal Bank (La Banque Postale), during a conference organized by the French Banking Supervisory Authority in early December, criticized that: “Cryptocurrency is pure speculation. Investing in these assets does not represent any positive contribution to the real economy."
For banks, the "crypto winter" has been going on for almost a year now since the bitcoin and other alt-cryptocurrency markets started taking a bad turn. While crypto players like FTX dream of challenging the traditional financial system, the system has so far proved to be resilient with legitimacy and trustworthiness.