BTC/USD Forecast: Continues to Lull Traders to Sleep

Large institutional traders are not interested in trading this coin as it is currently running out of wrists. If there is a place where money has died, it is almost certainly the crypto market. Bitcoin is of course the largest cryptocurrency market and it has lost all volatility. Large institutional traders are not interested in trading this coin because it is so far from the wrist spectrum. Think of it this way: most large institutions have enough problems with the stock market right now to keep them dancing. In a small market like Bitcoin, you can see the destruction pretty quickly. Advertisement Recent Volatility Has Created Great Bitcoin Trading Opportunities Enter! If there is a break below the $18,000 level, it is likely that the market will look at the $15,000 level. $15,000 is just a psychological number and looking back, there was no reason to think the market would stop there. This is an area where we haven’t seen much, so I think you have to look at structural support near $12,000. The $12,000 level is a complete „round trip” from where we originally rose. Eyes of the Federal Reserve Ironically, crypto traders pay close attention to the Federal Reserve they are trying to eliminate. It’s become clear at this point that the market needs to see some reason to move, and right now we don’t have one. The Federal Reserve continues to be tight monetary policy, and there are so many geopolitical and macroeconomic issues that it’s hard to imagine a scenario where anyone would want to throw a ton of money into Bitcoin. The rally is currently still selling opportunities, with the 50-day EMA ahead providing dynamic resistance. Remember, this is a situation where the market has become very quiet, so we get an unexpected spike. There will likely be traders looking to reduce their positions close to profit. Even if we go up, the $25,000 level is a big hurdle that we have to clear to show enough strength to take the rally seriously. On top of that, you need to see interest rates and the US dollar fall to make Bitcoin attractive for the next potential bull.

Steve Walker

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