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Bitcoin’s Painful Drop: Is There Still a Bullish Perspective?

Bitcoin's Painful Drop: Is There Still a Bullish Perspective?

Bitcoin (BTC) fell sharply to $25,000 last week and that appears to be the case Support hold. A move towards $27,500 is likely, but what is the bullish perspective? What should the bulls do and what resistance should they break through for us to be truly bullish again?

In the video above, I cover the bitcoin rate, the S&P 500, the dollar rate, and gold.

Signs Bitcoin is stabilizing

In my new video I go deeper into what is possible bullish Perspective for Bitcoin. The central question is: What is he supposed to do? cops What to do to get the market back in a positive mood?

An interesting development is that subsidy rate. A very negative funding rate was observed last week, suggesting that there was a lot of shorting.

However, this rate has now fallen significantly, which could indicate a temporary bottom in the market. That doesn’t immediately mean there’s a big one short press but it is a sign that the market could stabilize.

Important speech that can influence the course

In addition, I keep an eye out for various events that may affect the market, such as the Jackson Hole Symposium. This is where Jerome Powell, Chairman of the US Federal Reserve (Federal Reserve), will speak.

His words could have a significant impact on the market, as was the case over the past year.

Want to learn more about crypto? The Bitcoin Advisor will be happy to help you

You can contact Bitcoin Advisor for highly educational courses on Bitcoin, blockchain technology and how to invest in it. John even offers a free course for beginners! John also has a company page on our website where you can learn more about his services.

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