#ShareYourTrades $VIRTUAL VIRTUAL/USDT – Setup Heating Up Price flirting with $2.07 after a strong push. EMA7 > EMA25 = Bullish pressure building. Volume creeping back in. Break $2.27? We moon. Fall below $1.98? Tighten stops. Eyes on the prize. Momentum is knocking.
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This is not financial advice, just an analysis. Anyone acting on this should do so based on their own judgment.
Today we will discuss the current state of Bitcoin, including fundamental and technical factors that could affect its price.
Fundamental Analysis:
The most significant event currently affecting the market is the Trump impeachment hearing, which is expected on January 10. The hearing is taking place just 10 days before his inauguration on January 20, which is creating uncertainty in the market.
Key Points:
1️⃣ Why did the market fall two days ago? The main reason for the market decline is fear. Investors are waiting for the Trump impeachment verdict, and this uncertainty is causing people to sell their holdings.
2️⃣ What if the verdict goes against Trump? If the verdict goes against Trump, he will not be able to be sworn in as president, and in this situation the market could crash, resulting in the price of BTC falling below $80,000.
3️⃣ Will Wall Street let the verdict go against Trump? I don’t think so. Wall Street always influences big decisions and tries to sway the decision in its favor to avoid losses. Therefore, it is more likely that the decision will be in Trump’s favor.
Summary:
The more uncertain and fearful the market is, the higher the chances of a bounce.
The market is expected to improve in the next 3-4 days.
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Technical Analysis:
Looking at the 4-hour chart (4H TF) of BTC, it is clear that the price is continuously declining. However, according to the Fib Tool, the price has approached the golden zone, from where there are chances of a bounce.
Summary:
Buy at $94,800 and wait for the bounce. But if the price starts to move lower, place a stop loss to avoid losses.
Note: This analysis is based on my personal opinion and is not financial advice. Be sure to do your own research before making any investments.
$300K Long Position of $LINK Liquidated at $20.52 – Big Loss for Traders
The crypto market was shaken when $300,000 of LINK long position was liquidated at the key level of $20.52. This situation reflects the intense volatility and increasing uncertainty in the price of LINK.
Traders who were hoping for a bullish rally were suddenly surprised by the situation as the price could not sustain this key support level. This resulted in forced liquidations, which put more pressure on the market.
Such a large liquidation is usually a sign that buyers (bulls) are losing their grip on the market and sellers (bears) are gaining strength. Due to this, investors are becoming more cautious.
This situation is worrying because if the price does not sustain at the key level, there is a risk of further losses. However, a rebound is possible if buyers return to the market and support the price.
Currently, all market participants are keeping a close eye on every move, as any wrong move could lead to further liquidation, further undermining market stability. In such situations, traders are advised to remain vigilant and be prepared for sudden price changes.
Entry Price: $0.4032 Take Profit 1: $0.41 Take Profit 2: $0.424 Stop Loss: $0.39
A very important disclaimer!
Yes, it's essential to remember that any information or analysis provided should not be considered as personalized advice. It's crucial to do your own research, consider your own risk tolerance, and make informed decisions that align with your individual goals and circumstances.
Let's ride the wave! #DogeCoin #Cryptocurrency #Trading"