Hello everyone, how are you doing and how is your life going? I hope you are all well and having a good time with your loved ones. In this post, I will discuss Bitcoin and what the next possible move could be. Many predictions have been made by many people on social media, particularly on Twitter, which has become a hot topic among coin holders. BTC has the ability to move up and down on both sides, but it still has a significant downside move due to the global financial crisis.
According to the most recent news and humour, interest rates may be raised again due to a possible increase in CPI. Other global crises, such as the discussion of war between China and Taiwan, Russian troops expanding the battle against Ukraine, the rise in inflation, and many more, have just stopped BTC from changing the trend. Investors and other traders are keeping an eye on the support and resistance levels and waiting for a breakout to enter positions. No such volume is expected right now, which is also positive and will keep BTC from falling.
There are more expectations of a BTC drop, which could occur at any time due to any bad news. Investors have taken a position in the market and are watching BTC to see where it goes. We are still in the sideways range from last month, which ranges from 18900 to 19900, a 1000USDT difference. This sideways movement will only end if there is a large volume battle between the bull and bear. Breakthrough works better here, and it can come from either side, as well as a trend reversal. From the previous cycle of BTC, this was the time when the trend changed and we saw a huge pump that took the value to $60,000.
If there is a lot of volume and some bad news, BTC could fall by more than 54%, as shown in the graph. The next major support level is between $10,000 and $12,000, which can halt the BTC bear at that point. There is no such resistance to prevent BTC from falling if it breaches the current support range of 18k to 19K. However, if we see some good news and the news comes in favour of the market, we may see a significant increase in value, as shown in the graph. As we can see from the world issues, there is a 70 to 30% chance of a dump to pump.
As we all know, Bitcoin is the king of the cryptocurrency world, and all other altcoins trail behind it. Bitcoin is currently among the most volatile coins, and if BTC falls 2%, other altcoins fall twice as much. Altcoins will bleed and may lose more than 60% of their value, which is very concerning for investors. However, there will be an opportunity to take your position at that point because it will be the sale season and you will be able to get your favourite coin at a discounted rate. In any case, you should keep your holdings because history repeats itself and all the coins pump, which gives you a profit.
It should also be noted that this point could be the reverse point, and the trend could reverse from here. As a result, we should take our positions gradually because it will not give you the opportunity to buy if it takes pump. Many investors are thirsty right now and will buy their massive holdings as soon as the bull confirms. There are still altcoins available at low prices, such as HIVE, which is currently $0.47 and has the potential to reach $5 as bull confirms. In short, there is a battle going on between bears and bulls, and either side will confirm the trend. Many investors have lost half of their assets as a result of the massive Bitcoin crash and are now looking for new opportunities.
Many new investors have taken positions to avoid missing the cycle and have gradually begun buying, causing the BTC to return to $20,000. This is one of BTC's strongest supporters, as holders do not want to sell their coins in a panic, and new investors do not want to buy at this level because the trend is not confirmed and the market is waiting for a breakthrough. This is an exciting time for Bitcoin, as it tests the patience of investors. Finally, I can say that this is a game of luck and patience, and HODLERS always win, while panickers always lose their money.
This is my attempt to provide you with information about possible BTC moves. I hope you find this post to be informative and useful. If you find the post useful, please reblog it so that it reaches as many people as possible and that they can benefit the most. Also, remember to upvote, which will help me financially and grow my account. Please feel free to ask any questions you may have, and I will do my best to answer them.
Thank You!
Best Wishes.
