Hello everyone. It's time to update the graphics. We now need to look at price movements in Bitcoin differently. With the adoption of spot ETFs, the volatility I mentioned earlier continues to occur. The decentralization inherent in Bitcoin remains. However, as time goes by, price movements will become more centralized.
In the short and medium term, this centralization may lead us to despair. Attempts will be made to manipulate the price through various manipulation and speculation methods. Like gold and silver prices, Bitcoin price may remain under pressure for a long time. But in the long run, nothing can stand in the way of potential. Let's remember our slogan once again: "If the gold is not in your hand, it is not yours." And “If Bitcoin is not in your wallet, it is not yours.”
I will share the screenshot in this article. I got the data from Tradingview site. From price data of Binance Exchange. View from daily time frame.
The price is above the supply-demand zone in the 40200-41200 price range. There was a price correction with the approval of Bitcoin spot ETFs. Profit selling continued until the price of 38500. The green supply-demand zone below is moving towards the 37800-38400 price range. We must monitor this region carefully.
The supply-demand zone below lies in the price range of $29,200-$32,200. If the price breaks below the levels I mentioned above, we can start to follow this region. Above is the $43,800-$47,000 supply-demand zone. This zone must be crossed clearly for the possible upward trend to begin.
This is not a bullish or bearish signal. And this article is not investment advice. You should evaluate your investment decisions according to psychological and financial possibilities. It would be more useful to examine this publication as an educational study. See you later.
Thanks for sharing. It is helpful to see your charting thoughts. It will be interesting to see the longer term effects of the ETF price and holdings with available liquidity on exchanges and how synchronised they will be!
Thanks. With the adoption of ETFs, we have entered a completely new era. I hope we don't get hit by Wall Street wizards.
Yes, they have many tricks up their sleeves.
ood analysis
!Grayscale selling and Bitcoin not caring about it.. shows some bullish sign.
Will have to watch out couple of weeks all this selling to cooldown..
Once transactions between ETFs balance out, the Bitcoin price will become more stable. However, we can be sure of this; Bitcoin trading will require more experience.
Yea, it is much stable at point.
Yea, it's all experience.
Hey @anadolu, if you want your content to earn $leo tokens publish them from InLeo!
Publishing from InLeo also makes you eligible for Ad Revenue and Evergreen rewards after the 7 day payout window on Hive, give it a try!
Right now there is a challenge where you can win an InLeo Premium membership for a month!
All you have to do is make long form post using InLeo before January 31st.
Thanks for creating content on the LeoFinance community!
Thank you for the information. This is quite encouraging. I tested Leofinance's new interface a bit. But I haven't used it yet. I will start using it in the next period. Thank you again.
Great! Remember the interface is called InLeo and you can post to any community on hive and write about any topic using InLeo.
You will earn $LEO tokens from posting from inLeo no matter to what community you post to
!BBH
@anadolu! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @memess. (1/5)
Yay! 🤗
Your content has been boosted with Ecency Points, by @anadolu.
Use Ecency daily to boost your growth on platform!
!PIZZA Excellent!!
$PIZZA slices delivered:
@darkflame(1/15) tipped @anadolu