Bitcoin Market Analysis - A month of Struggle, Here is how the market might perform next!
Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
It has been quite a long time since I talked about the current market situation. In today's blog, I am going to analyze the market for Bitcoin and understand how the market might shape in the coming days and weeks for all of us.
So stay with me if you want to learn about the market, the current situation, and the indicators that you must look at. I hope this will help you take your decisions properly.
In the screenshot below, you can see the chart that we have been referring to for the last two years. It has worked for us quite well in both good and bad times. That is why I have maintained this chart carefully and referred to it from time to time.
We are going to look at the current situation. In the screenshot below, you can see that we are currently trapped between two trend lines, which are the light green and dark green trend lines. As you can see, we are trading between these two trend lines. We recently broke down from the support level, but we reclaimed it. Thankfully, we are once again trading between these trend lines.
To understand the situation properly, I am going to zoom in on the two trend lines in the screenshot below. Then you will understand what is actually happening. Yesterday we tried to break the light green resistance trend line, which was at twenty five thousand dollars. Since we failed to break it, we are now falling back toward our previous support, which was at $66400.
I hope we are able to maintain and respect that support trend line because it is very important. If we break it, then the last few times this happened we went down to $63000 and even saw a liquidity wick at $59900.
I do hope it does not happen again. However, if the market gives that opportunity, make sure to collect more of your favorite tokens for the next run.
In my opinion, the best way to enter the market in this situation is to buy in portions and focus on top tier currencies such as Bitcoin, Ethereum, and Solana. This approach helps reduce potential losses and increases the chance of making a return, even if it is not a ten times return.
This section is for the games I play on Hive blockchain. You are free to skip this section if you are not interested in reading about the games here.
In the screenshot below you can see my terracore base where we have used 5 attacks and they went ok ok as one of them were dodged and we won around 900 with 4 of the attacks that went successful for us.
Our golem overlord base used some attacks to win the shards as well as parts as we were there on time this claim session as you can see in the screenshot below.
That is all I did in Golem and terracore base today.
Thank You and make sure to check Crypto Company CEO services as I recently shared in my blog. You can simply click on the picture below and it will take you to their official website.
