Crypto market now is still in status of "Extreme Greed." Source: alternative.meIn the long-term many analysts' expect that projected President-elect Joe Biden's stance could have an influence on fiscal policy over the next four years, which could, in turn, affect inflation, against which bitcoin is touted as a hedge. Therefore many investors may want to take advantage of the potential correction to enter the market by buying the dip.
Bitcoin is now up 123% on a year-to-date basis and has gained nearly 50% so far this quarter. Today price briefly broke above $16 000 level, however buyers failed to uphold momentum and price pulled back forming a potential double top formation. In case of a break below the neckline at $14 341,38 the downward move may accelerate towards $13 000 support level. However if buyers will manage to regain control, then the upward move could be extended to the $20,000 resistance level. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
