Is Bitcoin on the brink of collapse or simply going through another bullish cycle disguised as a correction?
Bitcoin is going through a bullish cycle, where it has been generating all-time highs; however, the price of Bitcoin has been converging between the peak of 120K USD and 116K USD. It would be wise to wait for a good confirmation, as this week has started with influential macroeconomic events and it seems to be an interesting week, with a piece of news that might not impact this asset too much, such as the news coming out this Wednesday, which is "The Interest Rate Decision." This will be a key event that will undoubtedly generate a directional movement in Bitcoin and the rest of the markets. According to my analysis, I could expect a possibly bullish continuation.
If you currently hold positions in Bitcoin, remember to manage them well, and for those who do not, wait for a good confirmation regarding your trading plan.
Let me know in the comments what you think, and we can have a good growth discussion with different points of view.