Insane Cryptocurrency Market And Bitcoin Flash Review
By Rubika Ventures on Altcoin Academy
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In November we obtained low results in relation to the month of October. The reason for this, an error in our strategy for the operations of future Bitcoin contracts in Bitmex. November was a complicated month in short.
Anyway, we obtained a result of 337% of total earnings with a performance radius of 19.82%. Number of total signals sent 17 with only one lost. Guess which one it was? XBTUSD.
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But of all the signals we sent the one that surprised us the most was Enjin, who after signing a partnership with Microsoft, in a few minutes had an incredible price increase that came to value our main entrance by more than 50%. That really was amazing.
Total Market Capitalization Sentiment
It seems that the gangsters of the market will maintain for this week the total market capitalization ranging between $ 201 billion and $ 195 million dollars.
At the time of writing this review, the last recorded volume of 24 hours of trading was between $ 70 billion and $ 65 billion.
We still continue with a feeling of extreme panic and indecision, but with a neutral direction in the sense of buyers and sellers.
For the month of December, this feeling is expected to improve a bit. But our monthly analysis is clear. We are still in a correction zone.
Bitcoin Being Manipulated
By doing this quick review of the cryptocurrency market, Bitcoin will be trading around $ 7400 and $ 7350. The previous day a short squeeze was preceded giving rise to the massive liquidation of Shorts and Longs in a few hours. That’s why we say that Bitcoin is currently being well manipulated.
Analyzing the Bitcoin in the hourly chart in detail we see that there is a very strong resistance around $7550 and $7810. For short periods we need the price to consolidate above the EMA100. Below this means dominant indecision in terms of bearish direction.
In the daily chart, we continue below the 60% Fibonacci retraction line and days ago we had jumped for joy because wave 2 was over, starting wave 3, but the surprise was another.
Anyway, we see in the formation of a next double fund or W. But with the strong resistance that we have talked about earlier, Bitcoin may continue to be manipulated between the prices of $7050 and $7650 in the next few days. Remember, they are still the great players who have the best cards on the table and they will always want the best price to buy.
It seems that the mass supply and demand game for the few is ending.
With the crossing of the EMA50 with the EMA300 in the Bearish direction, it shows us a great resistance to high prices and if we see well, most of the EMAs are currently showing that, resistance and neutrality.
In a longer perspective, the formation of a low channel is noted in the daily chart.
See the next story. With Love 💛, Rubikators Team.
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Important Clarification Message
At no time does this article recommend the purchase or sale of any asset within the market. Our primary objective is the education and documentation of past, present or future developments.
Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.