Bitcoin; March 30, 2022: $47,300.00, Bullish or Not?
Bitcoin Above $47k
Bitcoin finally has managed to hold support above $42k and is currently at $47,300.00 This would normally be showing signs of a larger pull back to come. Especially when you consider the facts that we haven't pulled above $52,000.00 yet.
Bitcoin however has accomplished some notable feats these past 2 weeks as Bitcoin began its climb. We find ourselves at a pivoting point where the slightest bit of ill news could send that dreaded wick down, but we see news circulating about institutions turning bullish on crypto and buying more.
Are these stories made up to lead retail into buying a large sell out or are we about to hold another major level with stronger support than has been shown at $28k, if you can even remember that price level.
Bitcoin Summary
While I remain cautious when it comes to investing much in Bitcoin as of this time, I must let you know that I am not a financial advisor as of this time. We will turn extremely bullish within the next three weeks and I hope to see the "True Altcoin Season Happening" very soon.
When it comes to "Bitcoin's Explosive Moves" the rest of the market often moves the same direction as Bitcoin, while a small percentage of the market will move in a opposite direction. The same holds true with Ethereum and the gang of Altcoins it host.
When Bitcoin Dominance starts rise majorly, we are in for another ride shortly there after. Institutional investors could give Bitcoin the power it needs to blow through $52k
Bitcoin Cash BCH
Bitcoin Cash like the rest of the market is at the same pivoting point on it's own chart, where we could see the next major leg up (my opinion) or we could make a whole new bottom. That is a scary outlook.
The best worse case best scenario would be $300 levels again. However the markets are still looking bullish although we are still clearly bearish until we break certain levels.
XRP What is it doing?
XRP, you know, it is still looking as bullish as ever. The XRP'S charts previous pattern is looking likely for a major leg up. The pattern will most likely fail as far as following the exact pattern, but should be a decent indicator of a bullish market beginning.
YOOSHI $0.35 Cents Per Million!
YOOSHI: looking like we found support around 35 cents per million Yooshi which is up 7 cents per million. Yooshi still remains above the ICO prices and holds very strong support above those levels making Yooshi remain extremely bullish if the alt coin season plays out.
SHIBA INU
Shiba Inu heading back up to $28.00 after challenging $30.00 level on it's predicted way to $40, will it hold up against the rest of the market? This far it has outperformed every altcoin in it's class, hands down.
Shiba has set records that will leave people talking for the rest of civilization, realistically speaking until the next major record is set with crypto donations. Shiba will still hold it's place in the history of crypto when people are the stories of "The Great Reset" to their grandkids.
Summary
The Social Media Channels are buzzing with reports of financial institutions green lighting crypto this week. This could turn extremely bullish in light of recent events in the world of crypto adoption amongst countries as whole starting to pick up.
Why would countries want to use Bitcoin as legal tender? Personally, I still can not explain this one to any one. I understand the value of Bitcoin once it absorbs all other currencies. The implications alone hold major profit potential that is speculative, but realistic given current trends.
History has shown plenty of times that what is good for Bitcoin has always had a trickle down effect. The same kind of effect the tax cuts Obama & Trump gave corporations, but Obama gave them Billions of dollars to bail themselves out as well. Hey, that is a different story topic.
