What would happen if the financial market as a whole collapses? Would cryptocurrencies rise or accompany the collapse?
Post
Ualifi Araújo
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COMPLETE ANALYSIS OF THE MARKET!
Bitcoin lost the support of $74K which was a primary support for the Bulls to maintain. We can attribute several causes to this, from China threatening Taiwan in the last 12H or Panama severing ties with China and putting the world in great doubt about the Panama Canal, anyway, let's set these reasons aside for now and just look at the chart (for now).
We are below the primary support here, $74k, which is bad for the bulls, as it places us directly at the next lower support, $64k, and in the red zone is also where we have the EMA 100 (1M) which was also the fiercest resistance level of the 2021 bull market, it makes sense to have good support there.
We are below the primary support here, $74k, which is bad for the bulls, as it places us directly at the next lower support, $64k, and in the red zone is also where we have the EMA 100 (1M) which was also the fiercest resistance level of the 2021 bull market, it makes sense to have good support there.
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