GDP alone means nothing! Basically, GDP is the sum of everything that was produced and provided in Brazil.
You have to use the context in which this GDP data is inserted.
I'll give you a very simple example to help you understand:
Imagine that you are a country and with your work you can live well. Your GDP is X (production).
At some point, your cost of living starts to rise (inflation) and you need to work more overtime or even find another job in your free time, so as not to go hungry.
As a result, you produced twice as much, your GDP is 2X, but your life has gotten worse and is more difficult.
It's a simplistic example, but it's enough to take GDP off this pedestal used by people who know little about the subject, but watch too much TV.
I'm seeing a lot of people buying this dip. That's not how you do it. Not like that...
Wait for the token to show a minimal reaction based on reason.
For example, use the 8 and 14 moving averages on the 4-hour chart as a reference. As long as they are pointing down and widening, you know it's a trap.
There's no way, rationally speaking, to invest more money in $CTXC now.
I am not the owner of the truth, but I am inclined to believe that the price of Bitcoin will make a movement similar to the one drawn in white.
1️⃣ At first, we will surpass 104k and a new top will be formed in the 107k region. We will probably have a week of strong growth, especially in alternative currencies, while Bitcoin will move sideways rather than upwards.
2️⃣ After the new top in the 107k region, the market will reverse and we will continue towards 80K, culminating in the closing of the CME 'gap' in that region and supporting the long-term LTA.
3️⃣ Reaching the target region will be a strong buying opportunity.
Do you have available cash? Can your leveraged portfolio support a correction of this magnitude?
✅️It doesn't matter if this will happen or not, what matters is how many "what if" strategies you have.
As we all know: even if an asset is on the rise, there are corrections along the way.
Every day, we are closer to a significant correction.
1️⃣ We cannot deny that there are technical indicators of bearishness in higher timeframes.
2️⃣ We had the 100k breakout this week, along with an institutional trail of bilateral liquidation.
In these events, I see the market as if it were the abyssal region of the oceans, where not every bright spot will be a good meal, but rather a trap.
⚠️ Breaking through 100k was a beautiful bright spot that attracted a few thousand eager, unsuspecting and short-sighted fish who have never descended to this depth and are not accustomed to the environment.
This warning message is more for those who operate derivatives/futures and work with short "stops". Be careful with excessive leverage! Control your greed.
✅️ Now, if you are a holder, a person who holds the asset focusing on a longer term, this is just "turbulence".
How do we know this? Binance Square is full of latecomers, whiners for 2% corrections and, the strongest indicator, there are more leftists who evaluate the economic situation in Brazil as great here.
Evil capitalists tend to dump on these people's heads. Be careful...
Crypto investors embrace risk, but they seek speed. Most of them are impatient...
➡️ So what?
When the price of Bitcoin starts to move sideways like it is now, neither going up nor down, impatience makes resources flow into smaller crypto assets.
➡️ Is this good?
Of course, it is during these movements that smaller crypto assets soar. After all, Bitcoin is around 2 trillion in size.
Imagine the impact of just 5% of the Bitcoin market flowing into a 1 billion token. This is where the magic happens...
Understanding the historic battle of 100K and its developments.
The psychological resistance of 100k is the last stronghold of the sellers (bears), who have erected a barrier to contain the advance of prices.
The buyers (bulls) have been gaining ground, but upon reaching this strategic position, they faced strong opposition. After a brief retreat, they reorganized their forces for a decisive attack.
The bears, confident that the bulls would give up, reinforced their positions with leveraged operations, financed by brokers that lend resources using the assets of the interested parties themselves as collateral.
This high leverage created a liquidation zone (yellow region), where leveraged positions may be forced to close. Realizing the profit potential, the brokers began to momentarily support the advance of the bulls.