The Show Must Go On
Like global stock exchanges, Bitcoin is subject to the change in US central bank policy associated with geopolitical uncertainties.
Throughout the past year, my strategy has remained the same (I attach my previous articles at the bottom of the page) and continues as we come to the end of this month of January:
- Strictly bullish above the pivot.
- Neutral by playing both directions between the pivot and the support.
- Strictly bearish below the support.
Just like the first head and shoulder pattern, the second one allows to refine this strategy. Indeed, the first objective justifies the profit taking, all or part, of the positions taken since the break of the neckline, which corresponds to the pivot 40k / 43k.
Although technically probable, I don't believe in the scenario of a drop to the third objective ; despite the context, the prospects for cryptos remain bright, with institutions seizing more and more of them, while large companies are integrating them into their plans for the future, like Meta.
The next few days are going to be important as markets scrutinize for a possible escalation around the Ukrainian border as well as tomorrow's release of the US rate decision.
Throughout the past year, my strategy has remained the same (I attach my previous articles at the bottom of the page) and continues as we come to the end of this month of January:
- Strictly bullish above the pivot.
- Neutral by playing both directions between the pivot and the support.
- Strictly bearish below the support.
Just like the first head and shoulder pattern, the second one allows to refine this strategy. Indeed, the first objective justifies the profit taking, all or part, of the positions taken since the break of the neckline, which corresponds to the pivot 40k / 43k.
Although technically probable, I don't believe in the scenario of a drop to the third objective ; despite the context, the prospects for cryptos remain bright, with institutions seizing more and more of them, while large companies are integrating them into their plans for the future, like Meta.
The next few days are going to be important as markets scrutinize for a possible escalation around the Ukrainian border as well as tomorrow's release of the US rate decision.
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