Bitcoin/USDT - next levels of resistance
2025-01-17
Category: None

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Prediction Summary:
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 I think the chart mainly explains itself  

Buying @ 94.3K. I consider anything below 100K a good profit, just as before in my last idea. But Bitcoin is eyeing 120K. Selling is a no go for me.

Bitcoin news is mostly good. If Microstrategy buys another gargantuan amount of Bitcoin, I will gladly FOMO in/above the Ichimoku cloud. The volume seems to be picking up again too. I would stay away from Tron backed assets, even for DEX trading.

The part about acorns is a WO insider joke.  Maybe. 

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Technical Analysis:
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> Inside/above Ichi. cloud  - Bullish 
> Fib. resistance tested 3x since Jan. 1st  - Bullish 

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Fundamental Analysis:
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>  Coinbase Launches Bitcoin-Backed Loans - bullish development for the Bitcoin economy   

>  Latest US inflation data shows decrease in the core CPI  for the first time since July  - Bullish  

>  Hong Kong courts use blockchain to serve legal notices  - Tron proves itself less decentralized than Bitcoin. I would not recommend trading Tron-pegged Bitcoin assets  




Tools used:

Fibonacci Retracement
Open PnL
Ichimoku Cloud
Volume

This is not investment advice or financial advice. These are my own subjective thoughts on Bitcoin/altcoin price actions.

sources:
  coinmarketcap.com

 
coinmarketcap.com

  cryptonewsland.com


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Thanks for reading!


Context for yellow lines: www.tradingview.com