New year wish friends! I know some of you took a little break from trading the market during the Xmas holiday, and completely focused with family and friends. Well, I also did same thing, but I was always checking on the market at least once in a day to keep up to the market trends, you know:) This new year comes with different stuffs. 80% of the crypto communities are still expecting memes season. we will discuss this later.
So the story about Trump and Venezuela, how is it going? People say Trump is a "war criminal". Have you heard of that flying about social media world, with X ( twitter) also the headquarter of every stories of the world. So now this mean the US now controls the oil reserves in Venezuela? Well I think the people of that country are liberated and very much happy. But the future outcome of this is not yet certain as tension still heats.
Did you check the oil market recently amid all these waves? On the 5th of January, there was a little volatility and spike to $62 from $61/barrel. However, price begins to decline subsequently as the result of increase in supply.
Well! Did you observed the crypto market during this event? Yes! because it looks like Bitcoin price made a declined at first, then quickly recovered from $89,000 price territory to $90,000, before we experience a surge in price to $93k. And that also affected alt tokens too, positively as most of the alt tokens showed good signs of strength.
Have been looking at $ZEN recently. The price actions are telling good bullish signals. For days now price has been trading between $8.6 and $9.5 after surviving from the low at $6.4. If price breaks $10.6 into the upper territory, we may be expecting to see price at $30 t0 $50 price level.
Etherium is currently at $3,130 price level, dropping from $3310 price level. At the moment, I think a strategic accumulation strategy should be employed to follow up the market.
Am thinking we have reached the market bottom (who knows?). According to my analysis, and if you also checked/observed the market well, recently, you will realize that the market has really slowed down in movements to the down side. I mean; Fear and Greed index moved from 10%to 49%. question is; Is this just a short term relieve or a recovery?
I have this coins also in my watch list "LTC". LTC is one of the best crypto asset that have been holding for long now. Someone once asked me why Litecoin is so under valued. I don't have answers to that question, but all am sure is that institutional adoption is one good reason why good tokens appreciate rapidly, and for LTC, there is bright future for the hodlers. Price is currently at $81 as at the time of writing. I suggest a good and appropriate strategic trading pattern.
Alright guys, just wanted to share this with you. Cheers! and trade wisely
