Currently Bitcoin is hovering around 36k$ as of 6/6/2021 11:14 PM.It’s trying hard to break the resistance of 36.3k$.This is solely for intraday investors/traders.
Leaving aside the intraday factor currently bitcoin is ranging after having a sharp fall down from The 47-48k$ area of support.The sell off was due to tons of FUD(Fear,Uncertainty,Doubt) being presented in the market like china planning to ban crypto financial institutions,miners,elon musk shitposting stuffs,etc.Which clearly indicates we are still early in crypto industry where one person can manipulate the market so much.
Don’t Panic.holding a crypto can be good if you are entering for a long term.But That doesn’t mean you can’t and shouldn’t be smart about it.Knowing when to pull out and when not to is good for you,to increase your holdings over time which can lead to massive multiplication which many people ignore.Just a basic Technical analysis and Fundamentals can make or break your life financially.
So that’s why I’m sharing analysis and based on Technical analysis, right now we are ranging after falling which indicates that there might be more sell off in the future after the breakdown of the zone or breakout to the upside of the Range which is less likely.I Think itll fall.For now you can take advantages of ranging and trade alts or invest alts for short term.Or If you are long term holder just DCA(Dollar cost average).
Disclaimer:-I’m Not a financial advisor this is strictly for education purposes only any loss/profit you make is on you.
But keep in mind i posted twice about bitcoin updates here and both times i was right it’s not magic but simply experience and skills.I’ve been in this for a long time both investing/trading and make a living out of it for a while now.I want you guys to maximize the profit you can make if you act smart enough and invest wisely taking TA AND
FA into factor.See you next time good luck.DYOR SAFE INVESTING.