Bitcoin BTC - Key Support Level - Buy Long
Volatility has been reset from the market. Price was pushed down due to liquidation of over leveraged long positions - buyers were forced to sell, NOT because they wanted to sell.
What does this mean...? Best opportunity to enter long positions now.
Why?
1. Bitcoin holding 21W MA support (bull market support band)
2. The 41-44k range also includes 50D MA, 0.382-0.5 fib retracement, 42.5k key level of horizontal support
3. Upcoming "golden cross" of 50D + 200D MA
4. This quarter, 2 wallet addresses purchased over $1 billion in BTC each, which we may find out on SEC disclosures who this was by in Oct (current rumour is PLTR + TSLA)
5. El Salvador adoption + Panama + Brazil
6. Historically BTC does well in Oct/Nov/Dec
On-chain fundamentals still remain very bullish!! The trend is your friend.
Entry price: 42.5k - 44.5k
Take profit: on the moon :)
What does this mean...? Best opportunity to enter long positions now.
Why?
1. Bitcoin holding 21W MA support (bull market support band)
2. The 41-44k range also includes 50D MA, 0.382-0.5 fib retracement, 42.5k key level of horizontal support
3. Upcoming "golden cross" of 50D + 200D MA
4. This quarter, 2 wallet addresses purchased over $1 billion in BTC each, which we may find out on SEC disclosures who this was by in Oct (current rumour is PLTR + TSLA)
5. El Salvador adoption + Panama + Brazil
6. Historically BTC does well in Oct/Nov/Dec
On-chain fundamentals still remain very bullish!! The trend is your friend.
Entry price: 42.5k - 44.5k
Take profit: on the moon :)
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