Post
Topic
Board Trading Discussion
Re: FALLING FALLING!
by
South Park
on 12/11/2023, 19:23:27 UTC
When the EMA 200 was broken and the trend changed, I also don't dare say that now we are still in a bearish phase. Apart from discussing support and resistance with TA, Bitcoin's fundamentals have also improved recently, Fomo halving and ETFs have made investors and retail feel confident that BTC will continue to rise. So regarding the OP who stated the double top has been refuted because Bitcoin experienced a rebound to $38K a few days ago. This is very dangerous if we go against the flow, especially with Bitcoin's fundamentals which have been good recently.
You should be careful about that bro, because as you say price is currently drive by good fundamentals, especially by the ETF pending approval by the SEC. But how the market will react once it will happen? Seasoned traders buy the rumors and sell the news, so we are likely to undergo a dip when the first Bitcoin spot ETF will get accepted even if it's before the halving. So I don't think it's time to buy more BTC currently.
Since the fake news about an ETF being approved the price experimented an important growth, so it is likely this is already priced in however this is only when it comes to the short term, as the approval of an ETF will lead to more of them being approved and this will bring a huge deal of money and new expectations for this market, so someone looking at the short term should probably wait, but someone looking at things from a long term perspective should probably invest now and stop wasting their time.