For this new weekly edition forour market report, we want to bring you without hair or nails all the truths you should know about one of the main assets in the market.
Today, many are concerned about the repeated decline in prices. By the time this report was made, the market as a whole had disposed of more than a negative 10% of its capital. Bitcoin was not far behind.
Therefore, we formally ask you to pay good attention to the following lines of text and consider the recommendations that we want to make for the first period of the year.
In the long term, Bitcoin is going through a correction with a projection towards the monthly EMA21 and at approximately 36964.02. It is remarkable that we are going through the same period of transition seen in the years 2019 and 2020; years where we saw how the market went towards a correction in the direction of sales.
We are not yet in a bullish period as many say. A first truth that must be told. In fact, for the first months of the year we will go through a gradual correction period that could be the bearish wave 2 that many expect.
So far if it is true that you have a bearish figure with three black soldiers threatening to touch the support that we have mentioned above. In that order of ideas, it can be calculated as the next correction fund very close to 20k.
Most sentimental and trend indicators suggest selling but using the average buying strategy.
Another truth that cannot be hidden is that we are literally in margin of weekly sales. In the medium term, we may be touching the weekly EMA100 with a crossing of the lower Bollinger band and below 36407.48.
It is recognized then that the entire period between 2020 and 2021 was a shock wave number one and we are currently in the transition of waves two, three and four. This last one clearly shows what price could touch at least until 18953.99.
This scenario can really generate panic in many investors. However, in the long run it is a positive scenario for market optimists, who will seek to make purchases with cheaper prices and in order to achieve the greatest accumulation of capital for the long term.
It is therefore recommended to make purchases but calculating a good risk on capital. Also do not rule out the idea of placing little capital in the alternative currencies of the market or altcoins. Really the market today, and for this first month of the year, what you are looking for is a solid point.
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