Remember that the price of Bitcoin does NOT vary following the lines that someone draws on the charts.

It varies because the buying pressure changes or because the selling pressure changes. Nor do these two parameters vary following lines drawn on the graphs.

They vary primarily following changes in investors' (long-term) and speculators' (short-term) expectations.

These expectations are only sometimes influenced by strategies deduced from chart analysis, because sometimes they are also influenced by news, and even more so by changes in the fundamentals not only of Bitcoin itself and its market, but now also of the financial market in the as a whole and of the economy.

Therefore, if investors and speculators, for example, believe that the wait for spot Bitcoin ETFs on the Hong Kong stock exchange could lead to an appreciation of BTC, they may buy at this moment (and in fact the buying pressure is a bit on the rise compared to in recent days).

#Bitcoin #Crypto