We examine the price hitting its head on the descending trend line, triggering a reversal with a red candle. Experience the regret over a trade placed at 27K and the anticipation for the price to rebound. While exploring the meager movement and low volume in the market, we speculate on the correlation between stock market performance and the crypto market.
Uncover the potential impact of futures contracts' expiration on Bitcoin's price and the surprise at the lack of follow-through after the contracts expired. We highlight the significance of technical analysis and chart patterns like the descending triangle, acknowledging the market's unpredictable nature and the need for confirmation through price action.
In a playful twist, we suggest a name change to "Thread Master" for the humanoid robot Hiver referred to as Taskmaster. As we expect a sideways movement within the narrowing range, we ponder the possibility of a breakout or breakdown from the descending triangle pattern.
Check the vid for Mitch and I's full thoughts on the BTC price and where we're headed from here
https://images.hive.blog/DQmTXsVnxYGZyRsnSEi4JqHhyzKF6m3Dd1RHT5Nyws5szYf/image.png
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
Twitter: https://twitter.com/FinanceLeo Discord: https://discord.gg/E4jePHe Whitepaper: https://whitepaper.leofinance.io
Our Hive Applications
Join Web3: https://leofinance.io/ Microblog on Hive: https://leofinance.io/threads Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP Hivestats: https://hivestats.io LeoDex: https://leodex.io LeoFi: https://leofi.io BSC HBD (bHBD): https://wleo.io/hbd-bsc/ BSC HIVE (bHIVE): https://wleo.io/hive-bsc/ Earn 50%+ APR on HIVE/HBD: https://cubdefi.com/farms
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com PolyCUB (Polygon): https://polycub.com Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io
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Return from Decoding Bitcoin's Recent Price Action: Will the Moon Come Soon? to khaleelkazi's Web3 Blog
