BTCUSD By MarcPMarkets – Technische Analysis – 2023-03-19 01:51:32

the next bitcoin resistance level 28 thousand and the price is almost fixed. Can it go on like this? There are some very important factors to consider before falling for all the “guru” scams out there. In this article I will explore scenarios that can further stimulate this and what can stop it.

First of all, if you haven’t entered that long from previous prices, it’s not now. 28k important levels and a great place to get rid of the risks, which you will help previous investors achieve by buying it now. The short-term momentum is clear rising But the greater the price pressure, the greater the risk.

In my previous article I talked about the possibility of a B wave which is often a corrective leg that can be very dramatic and even fool many into believing that a higher high has been made. While this may still be the case, the argument is now weak. If this is a B wave, it should show it by pulling back significantly next week. No matter what anyone claims, no one knows that future. The best we can do is adjust the odds, wait for confirmations, and assess the risks.

If this move higher continues with little or no pullback, 30k would be the next resistance in play. This will also mean that this is either wave 5 or the first phase of a broad wave 3. If wave 3, it opens up possibilities for all levels of “dreams” on which “graph professionals” build their careers. Keep in mind that the wave number provides perspective and a way to gauge expectations in a more market-oriented way. You cannot marry them because they cannot interpret unknown market information about the future.

What can keep this movement going? And what can stop her? If you look at the bond market and… gold , you will see a similar price drama. My first impression is that this is a race for safety in the future economic inflation on steroids. This came about as a result of the recent bank failure drama, increased attention and scrutiny of the banking sector’s vulnerabilities (take a look at the countless herd mentality videos on Youtube). Bank guarantee transfers (as you want to put it) mean economic inflation And the unstable dollar.

The main catalyst that will keep this rally going is the Federal Open Market Committee meeting scheduled for Wednesday. If Powell’s boss has to changes His original plans and only 0.25 up, and after the dovish comments in the press conference, this race has a better chance of continuing (which means making sure to buy the pullback).

If Chairman Powell goes ahead and raises the 0.50 and maintains a hawkish stance, that could dampen this move, at least at first. The problem is that higher interest rates may lead to more bank failures which will require more “bailouts” which will not help. economic inflation The long-term.

It can be a very confusing and uncertain time. Anyway, here are some tips to keep in mind:

1. No opinions. Let the market provide clarity on price structure and/or macro fundamentals.

2. Focus on defense during these situations. If markets are rising as a result of dovish policies, then this is not a valid reason to rush in this context. Less market exposure means shorter time frame strategies.

3. Do not respond to information. Take the time to identify risks beforehand. in rising Momentum environment, support levels carry less risk in theory. Wait for the appropriate levels. to bitcoin It is 22 thousand and 25 k his own.

Thank you for considering my analysis and my point of view.

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