Bitcoin has dropped to the bottom of the wedge and this is it's major support at this stage.
The price seems to be bouncing up from here but we need to be on alert because it could easily dip lower (there is less than 40% chances of that happening).
At the same time, indices around the world are having a very bad day with major losses and it will be important to see how that develops, as it does affect cryptos as well. When the real (traditional) markets suffer, investors could start liquidating their crypto to buy that dip if it happens. The same happens to Gold and Silver in these occasions (if the stock markets drop, gold also drops).
This is a dip to buy now but under support the situation changes and this can happen in minutes so be aware.
Let's take it step by step and see what happens.
One Love,
the FXPROFESSOR
The price seems to be bouncing up from here but we need to be on alert because it could easily dip lower (there is less than 40% chances of that happening).
At the same time, indices around the world are having a very bad day with major losses and it will be important to see how that develops, as it does affect cryptos as well. When the real (traditional) markets suffer, investors could start liquidating their crypto to buy that dip if it happens. The same happens to Gold and Silver in these occasions (if the stock markets drop, gold also drops).
This is a dip to buy now but under support the situation changes and this can happen in minutes so be aware.
Let's take it step by step and see what happens.
One Love,
the FXPROFESSOR
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