BTCUSD is currently sitting on a weekly support and forming a huge pennant which usually break upwards. This is also price area when Elon Musk got vocal about his interest in Bitcoin.
Bitcoin had a nice dip of around -57% from the top and consolidating while sitting on weekly support. Historically such dips and then consolidations have been a very good places to buy. Good risk/reward ratio.
Institutional interest in this space is now more than ever. In last two weeks, Ray Dalio and Icahn have been added to the list of billionaires who have openly shown their interest in this space. When these big guns say something, everyone listens.
Provided all this, i think this is a dip to buy and that too heavily.
Bitcoin had a nice dip of around -57% from the top and consolidating while sitting on weekly support. Historically such dips and then consolidations have been a very good places to buy. Good risk/reward ratio.
Institutional interest in this space is now more than ever. In last two weeks, Ray Dalio and Icahn have been added to the list of billionaires who have openly shown their interest in this space. When these big guns say something, everyone listens.
Provided all this, i think this is a dip to buy and that too heavily.