Connect with us

Hi, what are you looking for?

Cryptocurrency

Bitcoin Analysis: BTC drops 40% in two months

Bitcoin Analysis: BTC drops 40% in two months

Bitcoin has dropped below $40K USD and entered a downtrend in the short/medium term, this could take BTC below $30K USD, what to expect from now on and how to behave in the event of a bigger drop in prices?

Check it out in the review below!

Bitcoin is currently fighting at the $40,000 support that, if broken, will take the price to $30,000, if the price holds on to the support and goes back up, the target is there at $78 and US$ $80 thousand dollars.

Gráfico Semanal (W)

For us to have this upward movement to $78,000, we would need a bullish pivot in the next two months on the daily chart, if we do not have this movement, it is dangerous to consider a trend reversal to operate in the short term.

Gráfico Diário (D)

At a time like this the best approach is to focus on asset fundamentals and Bitcoin accumulation for the long term. Thinking about a horizon of 4 years or more, Bitcoin has never harmed its holders and has largely offset the inflation of the period.

The best strategy for accumulating Bitcoins is the famous DCA (dollar cost averaging) where you buy Bitcoin every first day of the month or every first day of the week focusing only on accumulating without selling the assets for at least 4 years.

We don't have any signs of a bullish return in the crypto asset's volumes or in standard indicators, this is a moment of caution where only the long-term strategy tends to prevail.

Disclaimer: The information contained in this document is not guaranteed, is not intended to be comprehensive, and is strictly for informational purposes. It should not be considered an investment/trading recommendation. All information is believed to come from reliable sources. CriptoFácil does not guarantee the precision, accuracy, or integrity of the information in its analysis and, therefore, will not be responsible for any losses incurred.

Also Read: Jack Dorsey Creates Fund to Defend Bitcoin Developers Against Lawsuits

Also Read: TradingView Column: FED and American Inflation Boost Cryptocurrency Market

Also read: Senate will analyze three projects to regulate cryptocurrencies

You May Also Like