BITCOIN ANALYSIS: SLOW BOMB!
Hello traders!
After a month of upward accumulation with some struggles, Bitcoin price has increased strongly in the past 3 days, from April 2022 until now Bitcoin has just returned to the 42k price range. Such market excitement seems to be due to defiance combined with plans to push goods by the big players in the market to get rid of goods before re-dealing new cards before the halving occurs. There are a few reasons as follows:
- The price has increased continuously from the price range of 27k to now 42k, an increase of nearly 57% without any significant adjustment.
- The internal factors have not been shown much yet. When the FED is not really dovish, there will be no cheap money flow to pump too strongly into the market. We can see through the volume of the recent increase. That cannot be considered strong cash flow.
- The main news that affects the sudden increase in price is that the Bitcoin ETF has been approved, but until now it is still just a rumor and not a single application has been approved, at least until January 2024, the situation is There will be no sudden changes to this event.
Possible upcoming events:
- The most potential price that can increase is the 0.62 fibo area, around 48.5k.
- Within the next 2 weeks, the price could reach the 48.5k, even 50k area, which the big guys will surprise us with when a number of people don't think the price will reach that mark. This will cause all players who want to short to catch the peak to be destroyed.
- On the other hand, the remaining crowd begins to pay attention and FOMO following the rise of bitcoin price will be tragically destroyed when bitcoin price hits the 48.5k-50k area. When red, just a relatively large selling volume occurring in a short period of time will trigger sell and short orders simultaneously. Start the process of deep price adjustment before the Halving.
- Although I personally know it sounds like a conspiracy theory, I don't think it's that simple after Binance was fined and CZ resigned. This is most likely a bomb waiting to be detonated within the next two weeks, heavy enough to cause a simultaneous sell-off.
- My personal plan is still to wait for a short sale in the 48.5k-50k area.
After a month of upward accumulation with some struggles, Bitcoin price has increased strongly in the past 3 days, from April 2022 until now Bitcoin has just returned to the 42k price range. Such market excitement seems to be due to defiance combined with plans to push goods by the big players in the market to get rid of goods before re-dealing new cards before the halving occurs. There are a few reasons as follows:
- The price has increased continuously from the price range of 27k to now 42k, an increase of nearly 57% without any significant adjustment.
- The internal factors have not been shown much yet. When the FED is not really dovish, there will be no cheap money flow to pump too strongly into the market. We can see through the volume of the recent increase. That cannot be considered strong cash flow.
- The main news that affects the sudden increase in price is that the Bitcoin ETF has been approved, but until now it is still just a rumor and not a single application has been approved, at least until January 2024, the situation is There will be no sudden changes to this event.
Possible upcoming events:
- The most potential price that can increase is the 0.62 fibo area, around 48.5k.
- Within the next 2 weeks, the price could reach the 48.5k, even 50k area, which the big guys will surprise us with when a number of people don't think the price will reach that mark. This will cause all players who want to short to catch the peak to be destroyed.
- On the other hand, the remaining crowd begins to pay attention and FOMO following the rise of bitcoin price will be tragically destroyed when bitcoin price hits the 48.5k-50k area. When red, just a relatively large selling volume occurring in a short period of time will trigger sell and short orders simultaneously. Start the process of deep price adjustment before the Halving.
- Although I personally know it sounds like a conspiracy theory, I don't think it's that simple after Binance was fined and CZ resigned. This is most likely a bomb waiting to be detonated within the next two weeks, heavy enough to cause a simultaneous sell-off.
- My personal plan is still to wait for a short sale in the 48.5k-50k area.
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