Hi folks!
Christmas is coming and with this the usual stalemate. I saw many post online (tradingview and twitter) calling for a bull run and just can't figure out how they get to this conclusion. Bitcoin is at 16 837$... lets take a quick look at the charts.
Daily: well, nothing to see, we still in between 17 500 and 16 747 range. PA indicator is following the middle yellow line, telling us that we might going sideway for a while.
Weekly: Not much volume, but it doesn't look like the candle gonna close over the resistance at 16 946.We'll need to wait till the close to see in which direction price choose to go. My bias is bearish, but thing can go in the other direction if the green line (PA) change direction before 7.61. But chances are good that in the next couple to weeks we go down to 15 584.
Monthly: still nothing. Personally, I see this plateau as another distribution phase before another leg down, and then we could start an accumulation phase that would eventually trigger a bull run. When? In a month? 6 months? A year? Who knows? I don't. Don't trust those who say they know. You are easy money for them.
if you have money left in spite of this inflation, treat yourself this holiday season, forget about trading. We'll have plenty of good occasion to make money in 2023.
Be patient, follow the price, not the influencers, and if you cant wait, make a plan, DCA the shit out of Bitcoin and only invest what you can afford to loose.
Good luck and good Profits!
And a Merry Xmas to you all!
GGP
disclaimer : This is just my opinion. Not an expert. Not financial advice. Just for fun. DYOR.
