Crypto Overview [1] - Is The Pain Over?
Dear readers,
Welcome to Crypto Overview, a weekly newsletter where we provide important subjects around crypto(currencies). Every week we will present updated charts on the most popular coins and explain important market fluctuations.
In this week’s newsletter we are releasing our newest charts with technical analysis to understand where potential buying entries are. The first buying opportunities are already presenting themselves.
Bitcoin - 1D Chart
Bitcoin’s price landed on our first support where we would start to accumulate for the long-term. We expect bitcoin’s price to trade sideways in the coming weeks with minimal price action. Because investors and traders are not convinced that this is the bottom with the Fed just starting their hiking cycle.
However, it is possible that bitcoin starts a bear market rally here and trades back towards $30k in the coming months before making a new year-to-date low. That would be the first black trendline acting as resistance.
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