09-04-2022, 03:02 AM
BTC weak at 20000$ - what are your thoughts ? Analysis for the sub [serious]
<!-- SC_OFF --><div class="md"><p>Yesterday after the stock markets were in solid green they all declined and dumped heavily most likely reacting to <a href="https://amp.cnn.com/cnn/2022/09/02/business/russia-oil-price-cap-g7-intl-hnk/index.html">G7 capping Russia oil and Russias reaction</a> combined with weekend uncertainty that will be longer this time since Monday NA stock market are closed. ( Labor Day )</p> <p>On the chart BTC keeps rejecting the <a href="https://imgur.com/a/2pi4XsV">EMA 8</a></p> <p>This weakness combined with ongoing bad news about the EU gas problems and the US inflation rate still being high is not the greatest time for Crypto to have a recovery.</p> <p>recently Chairmen Powell sounded more hawkish indicating a potential another interest rate hike trying to cool down inflation. </p> <p>Something I’ve mentioned before in this sub a couple weeks ago is also the more and more lowering Bitcoin <a href="https://de.tradingview.com/symbols/CRYPTOCAP-BTC.D/">dominance</a> which is in my opinion huge news. </p> <p><strong>the last time it was at such Level was 2018 and the huge 2021 sell-off</strong></p> <p>Bitcoin also dropped below the <a href="https://imgur.com/a/3SfiwKs">200 week moving average</a></p> <p>I personally see this as good and bad signal. Bad news it really looks like Bitcoin is on a cliff right now testing new lows and might fall under 19k trying to find support anytime soon.</p> <p>On the bright side I think what we’ve witnessed the last months is really good for bitcoin. Crypto keeps surprising me how it’s doing during these bad global economic times. If you would’ve told me 1 year ago that we will have this situation I wouldn’t be sure if I could even expect Bitcoin to stay above 10k. </p> <p>Yet it seems to have strong support and is treated like a solid tech asset similar to those listed in the NASDAQ. </p> <p>What are your thoughts ?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TarkovReddit0r"> /u/TarkovReddit0r </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/x4slwi/btc_weak_at_20000_what_are_your_thoughts_analysis/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/x4slwi/btc_weak_at_20000_what_are_your_thoughts_analysis/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Yesterday after the stock markets were in solid green they all declined and dumped heavily most likely reacting to <a href="https://amp.cnn.com/cnn/2022/09/02/business/russia-oil-price-cap-g7-intl-hnk/index.html">G7 capping Russia oil and Russias reaction</a> combined with weekend uncertainty that will be longer this time since Monday NA stock market are closed. ( Labor Day )</p> <p>On the chart BTC keeps rejecting the <a href="https://imgur.com/a/2pi4XsV">EMA 8</a></p> <p>This weakness combined with ongoing bad news about the EU gas problems and the US inflation rate still being high is not the greatest time for Crypto to have a recovery.</p> <p>recently Chairmen Powell sounded more hawkish indicating a potential another interest rate hike trying to cool down inflation. </p> <p>Something I’ve mentioned before in this sub a couple weeks ago is also the more and more lowering Bitcoin <a href="https://de.tradingview.com/symbols/CRYPTOCAP-BTC.D/">dominance</a> which is in my opinion huge news. </p> <p><strong>the last time it was at such Level was 2018 and the huge 2021 sell-off</strong></p> <p>Bitcoin also dropped below the <a href="https://imgur.com/a/3SfiwKs">200 week moving average</a></p> <p>I personally see this as good and bad signal. Bad news it really looks like Bitcoin is on a cliff right now testing new lows and might fall under 19k trying to find support anytime soon.</p> <p>On the bright side I think what we’ve witnessed the last months is really good for bitcoin. Crypto keeps surprising me how it’s doing during these bad global economic times. If you would’ve told me 1 year ago that we will have this situation I wouldn’t be sure if I could even expect Bitcoin to stay above 10k. </p> <p>Yet it seems to have strong support and is treated like a solid tech asset similar to those listed in the NASDAQ. </p> <p>What are your thoughts ?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TarkovReddit0r"> /u/TarkovReddit0r </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/x4slwi/btc_weak_at_20000_what_are_your_thoughts_analysis/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/x4slwi/btc_weak_at_20000_what_are_your_thoughts_analysis/">[comments]</a></span>