🖖 Hello good people! I hope you are doing well. Another seemingly unplanned uncertain crypto week is behind us. Can we make any conclusions? 🤔
The market is in correction, however, there is some interesting information and options that we should potentially be ready for. 👇
👉 After the 'unplanned' dump 🔻, BTC was pushed below the 50sma (50-day Simple Moving Average)
The potential supports I see if the correction continues in the coming period are:
⭐️ $38,600 where the 100sma (100-day Simple Moving Average) is located -21% from the local peak of 49.8K
A breakout of this line would take us potentially to 35,000 zone 🔔
⭐️ If the correction lasts through February, the next support potentially would be at $33,400, where 200sma (200-day Simple Moving Average): Percentage-wise - a correction of 31% from the local peak.
A breakout of this line would take us potentially to 31,800 zone 🔔
Of course, the correction can happen later.
We are in an election year in the USA and in the last 20 years of tradition, the election year started with a correction through January-February, a recovery in March-April, while May is usually a smaller sell-off. Summer is recovery and the markup phase starts in autumn.
👉 This week I wrote about Can AI Predict a 100x Growth of Some Cryptocurrency? What role will AI play in the future in these kinds of predictions? And are they possible at all? Many people ask the AI which coin has potential in the coming period. Can AI provide such an answer? 🔮
While AI algorithms can analyze past data and patterns to make predictions about future trends, it's important to note that these predictions are not foolproof. The cryptocurrency market is highly volatile and influenced by many unpredictable factors such as regulatory changes, technological advances, market sentiment, and global economic conditions. Therefore, while an AI might be able to identify potential growth signals for a particular cryptocurrency, predicting a specific 100x growth is extremely difficult and uncertain. Any prediction should be taken with a grain of caution, and investment decisions should not rely solely on these predictions. Always diversify your investments and do thorough research before investing in any asset.
👉 We researched the most common Crypto mistakes that people make. So You Don't Have To. You can read about it here:
👉 We also had an analysis of how money affects people. Money, the lifeblood of modern society, plays a pivotal role in our lives. It offers us security, freedom, and access to opportunities, but it can also be a source of stress and inequality. You can read more about it here. 💸
👉 Other news this week:
I hope that among these topics you will find what interests you, and if you like the content, 🔔 collect 🙏 the article, and share it with your friends and acquaintances. Maybe some of them, thanks to you, will find their way to financial freedom.
Jenny ⭐️
