Support and Resistance

Bitcoin is still fighting the support and resistance.

As I mentioned last time, the more often we are trying to break through the resistance line the higher is the chance. Next technical price target is 26K. I am personally quite surprised about the strong volatility which is back in the whole crypto markets. It’s perfect for bot scalping with our strategy to make recurring gains.

Different analysts saying already that we have seen the bottom of the inflation which is a strong impulse for a next uptrend. The only thing I am currently worrying right now a bit is the situation between China and Taiwan. An escalation in this conflict could bring us into a new downward spiral. In my opinion these chance are quite low right now, because China is still suffering from their own strict covid rules and can’t afford it right now. But in future I am pretty sure there will be one day China will invade Taiwan.


Today I also want to introduce another website I am personally using from time to time. It’s the fear and greed index.


It’s presenting the current mood and the Bitcoin market and helps to identify the situation.


Crypto Fear & Greed Index - Bitcoin Sentiment - Alternative.me


I am currently not changing my buyscore with the Munich-Ai. I am trading around 95 Buyscore and have enough daily trades for small gains.

Have a great start into the week!

Patrick




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