24.10.22 - 31.10.22
Last week results
The previous week was mixed, there was a lot of sideways trading for most of the Crypto Market. Still, we got some clear confirmations and identified a new support line. The price went under 19,000 $ for a short amount of time, then we could see a strong comeback. Last Saturday and Sunday were bullish and we could see an increase in the pricing. Most probably Monday the 24th will provide more clarity on what’s going to happen throughout the current week.
▶️ The Bitcoin price is providing some sort of stability, some say it’s more stable than other classical assets. However, no clear directions are indicated by the chart.
▶️ Some rumors say that the Crypto industry is heading toward Europe since the European Commission is taking important steps regarding legislation. Several grant programs are in play, and the E.U. might ‘’steal ‘’ Crypto projects from the U.S.
▶️ Bitcoin is receiving adoption on a higher scale, and more and more countries are accepting BTC as a payment method.
These week’s key events
📈 Bitcoin Coming back?
The Nr. 1 Question: Is Bitcoin going to come back? Our StormGain analysts have researched some important technical and fundamental aspects and it’s possible to have at least a very short Bullrun that can happen anytime.
💡 3 reasons to buy Bitcoin now:
🔹 The significant rise in institutional investment
🔹 Whales appear to be accumulating BTC
🔹 Bitcoin's hash rate at an all-time high indicates a bullish reversal for crypto markets. According to data from Glassnode, the Bitcoin hash rate is at an all-time high. The increase in Bitcoin hash rate indicates more competition amongst the miners, and thus miners are bullish on BTC. It causes miners to hold Bitcoin rather than sell them.
Image Bitcoin: Bitcoin: Mean Hash Rate
🔹 Technical analysis: We have identified some important trading levels, that help you take the right decision. If we see a rejection at 19, 270 $, then we can open a long trade and apply the Take Profit all the way to 19,580 $, then we can aim for 20, 000 $ or even 20,500 $. A Stop Loss can be applied at 19,130 $.
However, if the rejection will not occur at 19,270 $, try to wait and initiate a long trade at the 19,000 $ mark or even 18,950 $.
❗️ Use this opportunity to make the right decision.