Bitcoin Is On The Verge Of A Crash

Don't forget to subscribe and hit that notification '????' & visit our base camp at https://cryptodaily.co.uk

-

Bitcoin Is On The Verge Of A Crash

Bitcoin has played out exactly as I had expected in my analyses on the Crypto Daily Charting Platform two days back. We saw a move towards $7k and now it is preparing for that next big crash. This is a crash that has been due for a long time now but BTC/USD could not make this decision on its own. This is why we saw that trading activity over the weekend was inconsequential and it did not change much. The price kept bouncing up and down within a tight range. However, now with the beginning of a new week, Bitcoin seems ready to make that big move.
We saw some indecisive moves at the beginning of the day but now that the S&P 500 (SPX) has started trading and has begun the day in red, we can expect that major decline in the cryptocurrency market provided that the stock market also moves lower. Recent attempts by President Trump to broker a deal between Saudi Arabia and Russia on OPEC Plus did nothing much to save WTI Crude Oil (USOIL) from losing most of its gains. We are now at a point where the oil market could once again trigger a major decline in other financial markets including the stock market and therefore the cryptocurrency market.
The near-term outlook of the cryptocurrency market remains extremely bearish. There is no reason at all to be optimistic at this point. The best option for most investors would be to sit on cash as the US Dollar has recently been performing really well. We can see on the weekly chart that the Dollar Currency Index (DXY) has a lot of room for growth and there will be an increasing demand for the US Dollar in the months ahead. The EUR/USD forex pair is also at a critical juncture and if declines again, we could see it fall below the 1.00 ratio. This is going to be a very exciting decade for financial markets and if the cryptocurrency market ends up completing its correction this year, then it might present some really good opportunities to accumulate for long term.

-

Read the featured article here:

-

Today's video was created using Crypto Daily Charts.

These charts can be accessed by visiting https://charts.cryptodaily.net/ and they're FREE to use.

As many cryptocurrency traders and market-watchers know from their market analysis, cryptocurrencies exhibit very technical trading patterns, similar to other asset classes including foreign exchange (forex) and equities (shares and stocks), just to name a couple. Charts are therefore the most important trading tool that traders incorporate into their risk management strategies – when and at what prices to buy and sell cryptocurrencies.

Try out our FREE Charts here - https://charts.cryptodaily.net/

-

Take a look at our shop here: https://cryptodaily.co.uk/shop/#!/

-

Subscribe, Like, Follow, and Comment to all our Channels below:
Facebook: https://www.facebook.com/officialcryp...
Twitter: https://twitter.com/cryptodailyuk
Telegram: https://t.me/officialcryptodaily
Instagram: https://www.instagram.com/cryptodaily...
Soundcloud: https://soundcloud.com/cryptodaily

-

Who we are?

Crypto Daily, one of the world's only free-to-publish crypto news sites and media networks. Let us guide you through the ever-changing world of cryptocurrency.

We are a group of enthusiasts that love to talk about Crypto Currency. We are based in the UK and we want to offer help, advice and the latest Crypto Currency News. We have learnt from our mistakes and want to share some of the pitfalls and hopefully some insight into the exciting world of Crypto

-

Check out some Important Links Below:
Breaking News: https://cryptodaily.co.uk/category/br...
Live Token Sales & ICOs: https://cryptodaily.co.uk/live-token...-
Coins: https://cryptodaily.co.uk/coins/
Writers Submit Your News Here: https://cryptodaily.co.uk/writers-sub...

-

Checkout our Created Playlists:

Crypto Daily - Crypto News: https://www.youtube.com/playlist?list...

Bitcoin: https://www.youtube.com/playlist?list...

Ripple XRP: https://www.youtube.com/playlist?list...

Stellar XLM: https://www.youtube.com/playlist?list...

IOTA: https://www.youtube.com/playlist?list...

-

Please remember that this is not investment advice. Before you choose to invest, do your research and always remember to trade safe.

#Bitcoin #BTC #TechnicalAnalysis