Cryptocurrency Market And Bitcoin (BTC) Premium Technical Analysis Review
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”.
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.
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.
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!
Published at Sat, 01 Feb 2020 00:36:28 +0000
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