Cryptocurrency Market And Bitcoin Premium Technical Analysis Review
By Rubika Ventures on The Capital
In this next editorial note, we want to show you the latest market movements and the changes it has had since our last review. We have also improved some things and corrected others to show you the true market vision for these days.
Technically, and to begin with the right foot, it is really notorious that most cryptocurrencies are following the same direction as we had explained in our latest report on market statistics. We see therefore a less manipulated market and easier to predict.
Wyckoff Is Being The Star
After a few months, we had written one of our conspiracy theories, where we basically said that the market in general, and Bitcoin, specifically, were in a phase of re-accumulation.
Today we can say that Wyckoff is being the star. If we review the previous movements we can observe that really what was expected happened.
With this theory in what has happened in the market, we can already know and the future that comes before Halving is clearer.
But before all that, we believe that Bitcoin can get to close with a gold key the month of January very close to USD $ 10,000, and that will depend on the closing of future contracts that are to expire from the CME.
GAPs Many GAPs
While the Coinbase Pro platform works normally again, we have to congratulate the CME for its glorious profits and its eagerness to buy new contracts. From this time, and because of that, the daily chart created several GAPs.
Those GAPs, to call them that somehow, were summed up in large volumes of Bitcoin purchases and a lot of capital entering the market. This time, the CME didn’t really create a “Game Over”.
The Capital Inflow Will Fall
With the great success of the CME and many independent traders, the market until today closes with approximately USD $267 billion of total market capitalization.
But we know that in the coming days a price correction will happen and with it a huge capital outflow. That is why we recommend adjusting the belts, but happiness does not last long on earth.
Happiness Lasts Shortly
Bitcoin ends the day being valued between USD $9,490 and USD $9,530 approximately. With that, we must emphasize that what was done before and until today was perfect.
Where we go? basically we want to highlight that a crossing of the EMA50 with the EMA300 happened, which translates with the golden cross pattern; and this movement was perfect, because all this last high happened within a 5 Elliot wave. Along with the above, the price is currently trying to break 61% of the Fibonacci retraction line, an important zone to look for new resistances.
Exactly, the ABC correction we had placed in our last analysis was invalidated. Along with the above, we made a correction that made us reach the previous conclusion.
That little correction tells us that we still have a lot to learn from the theories that are important to predict the past, present, and future of the market. For now, what we can say is that Rubika Ventures is no longer swimming in uncertainty.
With this wave of massive expansion, we must consider the prices of USD $8210 and USD $7751 important, where we believe that the next correction wave could arrive within the ABC pattern.
The Money Laundering Is Over
We are seeing that the behavior of the market for the last days is being more natural and less manipulated.
In recent months, Tether transactions are being more controlled after the issuing company completely changed the developed network to the Ethereum network. With that, we deduce that money laundering is really ending.
That information is complemented by the report made by cryptoslate and messari, who say that Ethereum’s economy is now absolutely dominated by stablecoins.
Messari’s data also showed that the 12-month trailing transfer volume for ETH dropped from a staggering $430 billion to just over $150 billion over the course of last year. Stablecoin value, on the other hand, has seen a significant boost over the same period, says the report.
With this curious fact, will we be able to deduce that the manipulation and the mercantile inflation finished completely? If you have an opinion about it, please use the text box below this article and help us know what you think about this. God bless you…!
See you in the next story! With love 💛 Rubika Ventures Team!
Premium Lifetime Giveaway
Don’t forget that we are raffling a lifetime premium vacancy for the value of $800. Simply follow these steps:
Left some days to participate 👉🏻 https://twitter.com/rubikaventures/status/1219365000327966720.
Only Like❤️, RT🔁 the post and tag 3 friends 👥 in the comments. The winner will be announced next month.
With that, we just want to extend the invitation for us to build a new decade in this market with many successes and good profits.
Do you really love this article? please don’t forget to link us, tip or clap or leave us your comment to continue producing more content like this.
Join in our telegram channel to get Bitmex, Bybit, Derebit, and Binance trading signals with Cornix and all market insights for free, let’s go now https://t.me/rubikaventures.
Follow us on Twitter, TradingView, Coinigy, Youtube, Facebook, Uptrennd, Medium, Publish0x, & Instagram.
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.
