Bitcoin March 15, 2022
Bitcoin is currently trading above $39,000.00 USD. Bitcoin continues to hold above the previous downtrend marked with GREY lines for the 7th day. The chart above also highlights the lower lows we have been setting since $33,000.00 with the down side being the lower highs that keep coming in.
I would like to be extremely bullish right now, but the downtrend is still fighting to take over. We could see that major spike that I have been talking about. Some major influencers on Twitter are starting to call for the same spike up to about $57,000.00 USD before crashing down to $13,000.00
I have been eyeing $22,000 to $26,000 low by April 20 I believe was the date I wanted to see it start taking off again but at the time I think it was actually looking like it wouldn’t rebound till the later part of April. However if we break below $18 to $22 Thousand BTC at $9,000 to $13,000 with a very hopeful flash crash to a Dollar.
That very hopeful flash crash could potentially happen, considering bitcoin flash crash last year on some exchanges to under $15,000.00 I would of have been happy to of bought some at that level but it was short lived.
I think if Bitcoin fails to hold above the previous down trend, unless Bitcoin is able to set a higher high and maintain a lower high off of that spike we will still be visiting the red or blue line. I know from previous times that we should see a ton of inflow once this begins.
The inflow theory is contradictory to the propaganda agenda of moving crypto off of exchanges. We will see how it flows, we could see that higher high within the next 48 hours hours or fall back within the previous down trend.
XRP is holding at $0.76 USD and the red lines are previous support and resistance levels. The squiggly line is the previous pattern that XRP has follow with a slight deviation more than once. I am not implying that the pattern is starting over now, but if it was, that is what it would look like.
I do look to see the pattern no later than September of 2022. Although I wouldn’t complain about a spike now with a sell off point up to the announcement of a settlement with a large spike coming in off the hype. This all just a bunch of theories that could more than likely never materialize.
YOOSHI is currently around .26 cents per million, so I had to add a little to my YOOSHI bags today. I still think YOOSHI will sell in the $10 to $15 per million ranges in the next bull market. I made a mistake not buying a ton of Shiba when it dipped similarly to YOOSHI right now. I don’t want to miss that opportunity here, but at the same time I will not be risking more than I can afford to loose which isn’t much.
Sometimes when the markets are as red as they are and we see the slightest show of bullish sentiment we tend to over react with out actually understanding what is motivating the market to move. Supply and Demand does have a lot of weigh on the price movements as well as Economic factors. The major factor to weigh is sentiment on social media sites.
I have found that most investors are “in the loop” so to speak. I know I was big on technology already before I stumbled upon Bitcoin and to be perfectly honest, I have always been more than interested in finance.
I keep browsing through charts like Bitcoin Cash and I am seeing charts where most Crypto’s have found a clear bottom zone. However while in these bottom zones the slightest thing could dip them even lower. We have to keep in mind that most of charting is using previous history and applying that knowledge towards the future charts.
When you have a ton of data it allows you to zoom out and see price movements through different time frames. You can than examine what may or may not have been happening during those times. Example being major World Elections and of course threats of Nuclear Wars
Than you account for the statistics which tend to always play our with slight deviations you have the recipe for analysis that is not always correct. Sometimes people like myself hit the nail on the head and other times we smash the hell out of our thumbs…
God Bless You & Stay Healthy!