Weekly Bearish Cryptocurrency Bitcoin Market Review
By Rubika Ventures on Altcoin Academy
This week the game has been in favor of bears. That’s why I apologize if this market review is going to make the most discouraging of all!
The bloody days are yet to come before halving and important that:
(a) come with us and share your ideas and our telegram community https://t.me/rubikaventures; (b) let us know that the 50% correction of the market is almost to come and you should know this news as soon as possible.
Basically, this new weekly review will be the continuation of our previous market review, where we put together all the market theories and show you a complete technical analysis for the next next steps. Because the few mafias are entering the game and on our part, you have to know the following movements.
The Negative Market Side
The price below the EMA9 represents an unsafe area to be opening long positions. We still don’t have the confirmation of a possible reversal in the daily chart to form wave 5. We continue with our wave 4 with a small lateral formation.
We already say. Side market is difficult to know an exact line of thought! Worse is to recognize that trading volume continues very low. We still think the price can touch $6850.
From our point of view, this indecision and mix of indicators lead us to believe false feelings of the market in question.
Next Weeks Will Be Bloody
We are at a critical point where the price wants to stay between $6980 and $7100. The problem that exists now is to be testing the EMA100 on the weekly chart. Another challenge is the correction that the MACD is making to the few indicating a bearish point towards the bear run.
With an evening star on the weekly chart, we have no doubt that soon we will see the price of Bitcoin well below the $5550 we have been talking about in the weeks before.
We already warned that the closing of the month of December does not promise a situation in favor of the bulls! The price correction is being confirmed with high positivism.
Market Capitalization Will Die
Together with the fall in prices and the correction, we believe that the total market capitalization will die very close to the $ 150 billion dollars.
At the moment he breathes very close to the $189 billion dollars, but we recognize that the month of December is one of the months where the great players begin to liquidate the few their positions, extracting money from the market that many people do not perceive.
Let’s learn something, not everything in life is in favor of bulls. In the coming months, the dominance of bears will increase.
See you in the next story. With love💛, Rubikators Team!
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And remember, 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. 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.