What To Expect From Bitcoin In 2022
2021 – The Year of FUD, FOMO, and Wild Swings In Bitcoin
We have to admit that 2021 has been a wild year for Bitcoin, with multiple swings, gains that topped 100%, and losses that seemed unrecoverable… until they were completely cured. We started the year around $30,000 and by mid-Apr, BTC was ruling the markets at $64,895, almost turn the "To The Moon" memes into a realness.
Now, the exclusively way to go is up, right? Wrong! Just a month later, Bitcoin was again trading at $30,000, reaching a low at $28,600 by 22 June. That price detail wrong-side-out intent on be the year's low and aft more than 2 months worn out ranging 'tween $30,000 and $40,000, Bitcoin eventually broke prohibited and pierced $50,000 resistance before making a retracement that erased to a higher degree 20%, re-testing $40,000, and turn it into support.
Things looked uncertain as a drop below $40,000 would have meant that the bulls couldn't sustain the uptrend, which would send the securities industry into a selling delirium. However, that selling frenzy was non in the cards for Bitcoin, as $40,000 support held and Leontyne Price erst again exploded, hitting a unaccustomed All-Time High at $67,016. This massive climb took less than a month but the rocket lul had fire and 20 days later, BTC hit some other ATH at $69,000.
In representative 2021 fashion, a double climb is followed by a titanic leave out and right now we are in the bearish form. After hit the last ATH, Bitcoin dropped to a low of $42,000 ahead starting to move in a range 'tween $47,000 and $50,000. When will it exit this tight range and what's in store for 2022? Let's seek to get outgoing.
Chart Analysis – BTC/USD
After a brief visit above $50,000, Bitcoin dropped again below this winder handle and is again hovering on $47,000 stick out. This narrow range is uncharacteristic for BTC, which is known for its excitableness; even if it moves sideways, the period is usually short and is followed by a strong breakout.
Assuming that a breakout is imminent, the close step would be to feel kayoed the direction and the cay for that is $47,000 – $45,000 zona of support. This district combined with the long-term bearish trend line that is in private vicinity, could act as a springboard that sends price above the 50 days Moving Moderate.
A break of the mentioned support zone would mean that the bears are withal in control and that price bequeath move closer to the $40,000 print. However, 2021's pattern has been UP – Belt down – UP – DOWN and if this pattern continues in 2022, then we are look an Finished period. Advantageously, 2022 is right here, and then we will get our result presently.
Source: https://www.binaryoptions.net/what-to-expect-from-bitcoin-in-2022/
Posted by: reedcraver1962.blogspot.com
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