Dear traders,
We are resuming publication here on TradingView. If you agree with our insights, consider liking and commenting on the idea.
Let’s focus on Bitcoin. Its price has rallied since the last two weeks, showing extreme bullish volume in the market. This is mainly due to fear of negative fundamentals in the US economy, which is showing a lack of trust in the US Dollar. As traders and investors seek alternatives to the US Dollar, the main two prospects that look promising are Gold and Bitcoin.
So, what’s next? We think there are two possible buying areas where the price could reverse. The first is at a minor correction, and the second is a major correction. However, we believe the minor correction looks more promising at the current market conditions, while the major corrections would require fundamental intervention. Both present good opportunities.
This is our view only, and it doesn’t guarantee that the price will follow our predictions. Do your own analysis and research before making any decisions. We thank each of you for your support throughout and expect it to continue.
Much Love and Regards,
Team Setupsfx_
