Decoding Bitcoin's Recent Price Action: Will the Moon Come Soon?
We examine the price hitting its head on the descending trend line, triggering a reversal with a red candle. Experience the regret over a trade placed at 27K and the anticipation for the price to rebound. While exploring the meager movement and low volume in the market, we speculate on the correlation between stock market performance and the crypto market.
Uncover the potential impact of futures contracts' expiration on Bitcoin's price and the surprise at the lack of follow-through after the contracts expired. We highlight the significance of technical analysis and chart patterns like the descending triangle, acknowledging the market's unpredictable nature and the need for confirmation through price action.
In a playful twist, we suggest a name change to "Thread Master" for the humanoid robot Hiver referred to as Taskmaster. As we expect a sideways movement within the narrowing range, we ponder the possibility of a breakout or breakdown from the descending triangle pattern.
Check the vid for Mitch and I's full thoughts on the BTC price and where we're headed from here
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▶️ 3Speak
I certainly hope so. The halving is right around the corner, so historically BTC should moon soon.
The moon will not be soon. there will be a false start to draw in buyers, then, there will be a push down to get the weak to sell and run. Then a large push to close to the halfway point before the second correction. after those that think that is the top fall out, the final thrust will push to the top, and glide the glide down in swooping down and up arcs will ride the price down to it's eventual next resting spot. [Theory based on previous movements]
since no one can determine the price of Bitcoin. I think the best thing for one going into trading is to set aside capital that he is not in a hurry to withdraw
Moon Soon? Exactly !