Bitcoin dropped a few thousand in the last night, heading towards the 80k range.
If it goes back to this range, the possibility of further decline is high because:
- A long time from that range going up has not been able to break through the EMA200 on the daily frame.
- Unable to surpass the important psychological milestone of 100k
- Market sentiment has been depressed for a long time
- Capital flow is shifting to other channels that attract money faster, like Gold continuously hitting peaks.
Moreover, with the current political and economic situation and the pandemic, people tend to reduce risky assets (crypto) and seek safe havens (gold).
Do you remember around 2020, 2021, 2022? That was the period when there was news of the pandemic + the end of the cycle + Gold rising while coins were falling and there was a price split in a short period.
Coincidentally, now we have similar factors
#bitcoin #btc $BTC
If it goes back to this range, the possibility of further decline is high because:
- A long time from that range going up has not been able to break through the EMA200 on the daily frame.
- Unable to surpass the important psychological milestone of 100k
- Market sentiment has been depressed for a long time
- Capital flow is shifting to other channels that attract money faster, like Gold continuously hitting peaks.
Moreover, with the current political and economic situation and the pandemic, people tend to reduce risky assets (crypto) and seek safe havens (gold).
Do you remember around 2020, 2021, 2022? That was the period when there was news of the pandemic + the end of the cycle + Gold rising while coins were falling and there was a price split in a short period.
Coincidentally, now we have similar factors
#bitcoin #btc $BTC