How will Bitcoin fluctuate in the long term with the recent Israeli-Palestinian conflict? Let’s first look at Bitcoin’s weekly chart. Earlier in February 2022, there were rumors that Russia might attack Ukraine, and then after waiting for about a month or two, finally in February 2022, the war between Russia and Ukraine broke out. But it has been going on for more than a year, and it has not yet expanded into a global war.
Or we observe the weekly chart, which is also this form or this form. When retail investors see the outbreak of war, they sell out at the low point, and there will be a wave of rise afterwards. But if we look at the medium and long term, there are several low points at this high point in front, forming a high-end inclined head and shoulders top pattern. It breaks through at this position, and then it has been resisting the neckline pressure. In other words, there is a war in the short term, and it is possible that after selling at the low point, it will also rise, but the medium and long-term space is still relatively high, and there is a head and shoulders top, and it will fall afterwards.
Including at the high point, there has always been an expectation that the United States will raise interest rates, especially at this position, there is an expectation that the United States will raise interest rates, so the price of bitcoin fell later. Now my opinion is different. Its trend is an upward trend, and it is still in the box range. Now that the Israeli-Palestinian conflict has broken out at this position, how is bitcoin likely to go?
If the world's major powers intervene again, there will definitely be fluctuations in the bitcoin price, but the short-term panic has passed and the bitcoin price has already found a support. In my opinion, there may be room for adjustment in the short term, but the long-term upward trend has not changed. So if you plan to hold for a long time, you can also gradually increase your position at this time. Therefore, Lao Lin currently believes that the probability of breaking the support of 25631 is relatively small, and the short-term pressure is 28348.
Lin Muyang crypto:
A returnee from the UK with a master's degree in economics, he is proficient in C++, C#, Go, Java, Javascript and other blockchain technologies. He focuses on data analysis and macroeconomic trend analysis in the primary and secondary markets. He has developed the "three-part theory" and verified its reliability through multiple market conditions. Get free tools (clip) from siwo.
