Is it time to invest in the cryptocurrency market?
Greetings to all readers of this great platform, in this opportunity I want to share my point of view on the cryptocurrency market, based on what is currently happening and if I consider it as a propitious time for investment in some cryptocurrencies, or rather a time to be cautious and not risk our money in the current market.
So far this year so far, the BTC has formed from my point of view 2 accumulation zones, in which great uncertainty has been generated in the market, the first between 40k and 46k and the second which was the moment of double support, between 38k and 40k, this second generates great distrust.
This is mainly due to the lack of consolidation of the price in the market, either due to the lack of investors or the distrust of the people that leads them to sell massively affect the market price, in addition to the stop of mined in some countries, which negatively influenced the price of the currency in the market.
Now, from the technical analysis of the market situation, taking into consideration the BTC, has maintained a positive volume of transactions and purchases of the coin, so it can be said that it is consolidating in this area the market price, to achieve its capital accumulation and thus a triumphant return to the uptrend, in addition it is returning the BTC price to the accumulation zone of 40k - 46k.
On the other hand, at the time of making this post we can observe a particularity in the chart, taking into consideration some indicators used, such as the MACD: indicating an EMA crossover, so they have a trend with upward strength in their price.
Observing the paraboilic SAR: we can observe the appearance of the first point, indicating a possible change of trend, also a high volume of operations and an EMA with bullish direction, I think it is an excellent time for investment, either to leave in a few hours and earn some extra resources, or to accumulate while the market recovers completely, analyze the situation and decide what you want to do.