TODAY'S PREDICTION BTC/USD - Bitcoin US Dollar
Rabu 24 Juni 2021
@fadly
Good evening everyone, all Forex trading lovers in the world
On this occasion I will discuss about Btcuad or Btc US dollars.
According to my monitoring and information I found Bitcoin fell again, hitting $31,300 yesterday, its lowest level since January. The current catalyst weighing on the cryptocurrency has lost $300 million since Friday. One of them is due to China's increasing crackdown on cryptocurrencies.
Initially, controllers in the country's Sichuan province ordered crypto miners to shut down their activities. Yesterday, the country's central bank released a statement saying it "has urged some banks and payments companies to crack down on cryptocurrency trading," and blocked crypto transactions. Among the financial institutions targeted by the PBoC were the China Development Bank (SS:601939) and the Rural Bank of China (SS:601288) as well as Alipay from the Subterranean Insect Gather.
Given that Asian countries account for about 65% of the world's mining, it's understandable why computerized token financial specialists are upset. Coupled with the World Bank's refusal last week to support El Salvador's efforts to make Bitcoin a legal tender, as well as Elon Musk's fickle arrangement in determining whether Tesla (NASDAQ:TSLA) will accept BTC as payment for their electric vehicles or not. The advanced token has experienced more volatility than usual even though the token is now unstable.
In addition, Bolstered's sudden turn to hawkish decisions—where the US central bank indicated that they would be tightening early did not make Bitcoin sparkle even though Bitcoin has always been seen as an inflation haven. However, Bitcoin bulls seem willing to fight this barrage of negative news. Does this make sense? BTC/USD DailyBTC/USD Daily Despite the sudden amount of negative news, for the whole month, BTC
That does not mean that this news is encouraging news. As of this writing, the year's gains for the most popular computerized currencies by market cap have disappeared. Indeed, the crypto token has fallen below the uptrend line since October. Recently triggered a passing cross, and MACD and RSI are both showing bearish moves. If the price drops below $29,000, we expect the price to drop even lower. Nevertheless, Bitcoin bounced back today, confirming the bolster of a very bullish pound candle on June 8, with a very long lower shadow confirming the bolster of May 23 low, and that increases the potential for a bounce back to a month-long extend peak. Then, the move will retest the bottom of the broken uptrend line. Bottom line: for relatively small risk, you can create a disproportionately large potential profit.
Trading Strategy
Conservative traders should wait for the long-term trend. That means new mid-term peaks and troughs will be created, or BTC will drop below $29,000 for a sustained medium-term downtrend.
Moderate traders will open positions when the range has been broken.
Aggressive traders can go long now, given that the asset's proximity to the support hammer is quite close, relative to the upper range—providing the most favorable risk-reward ratio.
Don't trade without a sound plan. Here's an example that includes the basic parameters:
Example of Trading for Aggressive and Long Position Traders
Entry: $32,000
Stop-Loss: $31,000
Risk: $1,000
Goal: $40,000
Rewards: $8,000
Risk:Reward Ratio: 1:8
Author's Note: The strategy above is just an example. The full analysis can be read in this article. Remember, this is only our interpretation.
We do not own a crystal ball and cannot predict the future. If you don't want to lose your trading capital, don't trade. Success or failure is measured in whole trades, not single trades. Your personal circumstances will affect your trading results. Therefore, you must learn to make a plan that combines your budget, temperament, and time. Before you know how to do it, we invite you to use our sample—only for educational purposes, not for profit. Otherwise, you won't get both.
That's all I can tell my friends about Btc tonight.
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