07.11.22 - 14.11.22
Last week results
Instruments:
In the past week, we could see the power of BTC as well as the Altcoin market. The past weekend has brought us a very short bull run and some coins including Bitcoin, have seen some all-time highs ( in the past 3 months ). However this week, the market has seen a decrease, a correction that has brought BTC back to 20, 500$, the same price we have had last Monday.
Will it come back to 21, 500 $ or will it go under 20, 000 $?
Possible market triggers that made this increase happen :
▶️ The US Elections, consumer index, sales index, and home sales data
▶️ The E.U. inflation news
▶️ Start of the month ( we could see an increase at the end/beginning of each month)
These week’s key events
In the past week, we could see the power of BTC as well as the Altcoin market. The past weekend has brought us a very short bull run and some coins including Bitcoin, have seen some all-time highs ( in the past 3 months ). However this week, the market has seen a decrease, a correction that has brought BTC back to 20, 500$, the same price we have had last Monday.
Will it come back to 21, 500 $ or will it go under 20, 000 $?
Possible market triggers that made this increase happen :
▶️ The US Elections, consumer index, sales index, and home sales data
▶️ The E.U. inflation news
▶️ Start of the month ( we could see an increase at the end/beginning of each month)
📈 Correction for BTC, will it stay over 20k?
Looking ahead to this week, we might see Bitcoin making some moves. However, we need to check the news first, as well as the market sentiment. High fluctuations are expected.
💡 3 reasons to buy BTC now:
🔹 BTC ATMs are increasing, more and more non-crypto users are buying BTC
🔹 The U.S elections are crucial. The rumor is that the Republicans are more crypto-oriented that the Democrats.
🔹 The number of small investors is at an old-time high, and it seems that this all-time high was created despite the BTC price moving low. Small investors are accumulating, since the June drop, buying 0.1 BTC with 1,700 - 2,100$ in order to hold. The Next bull run will be determined by small investors and not by whales.
Bitcoin: Number of Addresses with Balance ≥ 0.1 ) 1,700-2,100 $ investment.
🔹Technical analysis: We had a predictable rejection under 22 000 $, now the pricing has moved towards the 20,000 $ mark. If a rejection will occur, the price has a strong chance to come back, and we might see a small bull run to the 24-26 000 $. If the 20, 000 mark is not kept, BTC will probably move back to the 19-19,500 area.
🔹We can open a Long position at 20, 875 $ and set our Take Profit to 21,150 $, then remove it to 21,850 $, placing a Stop Loss at 20, 550 $.
If the price will continue to drop, make sure to re-initiate your long position from 20, 150$, using the above levels to take profit.
❗️ Use this opportunity to make the right decision.
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