Bitcoin and the crypto markets are finally starting to see some upward movement. This does NOT mean the bear market is over and that you should invest every dollar you own towards crypto. But a lot has changed since the Bitcoin article I wrote last week. If you are interested in reading last week’s Bitcoin article, you can find that here: https://ncgcoin.io/weekly-bitcoin-breakdown-ideas-and-concepts-oct20/. In last week’s article, I did state that some technical indicators were starting to point toward a bullish market, So let’s dive into some Bitcoin details about that!
The current Bitcoin price in this article’s writing is $20,200. This is about $1,200 more than last week’s article. Bitcoin still holds that acceptable line range of $18,500 to $21,000. This recent push to the upside excites me more than most upward movements, as this happened faster than usual and with much more trading volume. That means large (financially) buyers stepped in and are still accumulating Bitcoin in this $18,500-$21,000 price range. As there is a lot of good Bitcoin and crypto news spreading around the internet, so are many technical indicators.
One of the trading indicators that many technical analysts use daily for their trading regimen is the Fear and Greed Index. If you want to learn about this Index in article form, check out this link: https://ncgcoin.io/fear-and-greed-index-quick-guide/.
The Index article was written yesterday as the numerical value showed 20 (now 33), and we were in Extreme Fear. Now the Index has moved up to only Fear as the price of Bitcoin and crypto markets have increased. As stated in the Index article, I said many traders like to buy Bitcoin when there is Extreme Fear. This Index indicator is not the only technical or fundamental concept that should be considered when trading, but it can help. This is not financial advice and any trading done is at your discretion. If you are tired of these rapid up-and-down crypto markets (and never knowing when to buy or sell), you should investigate ways to make passive income in crypto. Earning passive income in crypto is relatively easy and removes many of the negatives of trading.
Trading Bitcoin and cryptos can be stressful at times. Learning how to make passive income in crypto can take that stress away. How so? Creating passive income through Bitcoin mining (you can mine other cryptos as well) can produce you Bitcoin each month without ever having to trade the volatile crypto markets. To start receiving Bitcoin as passive income each month, check out a newer, technologically advanced crypto company called New Century Gold. You can check out New Century Gold and everything they have to offer you at this site: www.ncgcoin.io. They have an extensive professional team ready to assist you and teach you how to start making PASSIVE INCOME today!
Lastly, don’t forget to give me a follow-on Twitter (@MattSenn5) for daily fundamental and technical analysis concepts, all generally crypto-related. I have been in the crypto scene for almost eight-plus years, and I will likely be for the rest of my life! But I am here to stay, so let’s chat and create your new digital financial future!
Written by: Matt Senn