Trick or Treat
If you look closely at the latest “spooky” Bitcoin’s dip, you will find many bullish elements as well. As anticipated, the market was looking for a retest of the first support area
If you look closely at the latest “spooky” Bitcoin’s dip, you will find many bullish elements as well. As anticipated, the market was looking for a retest of the first support area
Gaps are not common in the crypto market. But, as Bitcoin gain mainstream adoption, these elements can play a relevant role in how its price moves.
China bans (once again) crypto activities, and only news outlets seem to care about it. The Crypto market reacted differently.
Investors believe Solana, Cardano, etc will outpace the “old” Ethereum in the race of scalability of DeFi, bringing crypto to mainstream adoption.
The mood of the crypto market shifted from “a new bear market started” to “long live the bull market” in a matter of weeks.
Technical analysis is a handy tool for traders, but it is not an exact science. Chart patterns may appear different to each analyst based on their biases.
Assigning a “label” to event helps everyone categorize things. It has been weeks now that traders struggle to answer the question, are we in a bear market?
Altcoins have rebounded strongly since last week’s lows, with Bitcoin looking much weaker and uncertain about which direction to take.
The market was overheated, and newcomers learnt that those who survived this sharp price drop carefully managed their risk, maybe with a stop loss in place.
While the price target for the current market cycle is still uncertain, it may be easier to foresee what will be the price floor of the next bear market.