- Bitcoin is still very bearish because the current price is below the main trendline and below the swing low from June 2022. I am not buying bitcoin at this moment because I feel like it is too risky to catch the bottom like this.
- But if Bitcoin breaks above 21,480 USD, then I will do more research about the stock market and gold , and I may open an investment position with a target of around 150,000 USD. I would rather buy bitcoin at a price above 21,480 USD than at the current price of 17,220 USD. I don’t know what you think; let me know in the comment section!
- As per my Elliott Wave analysis, there are two possible scenarios. The first is that the huge dump was only a WXYXZ tripple zigzag correction, which is unusual but can be true. The second scenario is that this was a strong impulse wave, or the fifth wave may still be in progress. This would be very bearish , and Bitcoin could drop to 6,000 USD. I am not interested in Bitcoin at this moment, but I do trade bitcoin intraday.
- On the chart, you can see strong levels on the road to a new all-time high. Expect a strong reaction here. Use these strong levels for your trading strategy.
- This is my opinion on Bitcoin ; I hope you like it!
- Now let’s take a look at the Twitter coin.
- For more ideas, hit “Like” and “Follow”!
Twitter coin – LOGO
What Does A Twitter Coin Mean for Dogecoin And Bitcoin?
-The crypto community is currently speculating what the alleged revelation could mean for Musk’s favorite coin, Dogecoin (DOGE) but also Bitcoin . At first glance, a proprietary coin from Twitter is bad for DOGE and also BTC , as it would eliminate the need to integrate both cryptocurrencies.
-However, the leak of the API could indicate that Musk is not just focusing on one cryptocurrency, but multiple. DOGE and Bitcoin could thus be complementary to the Twitter Coin. Thus, the crypto industry as a whole could benefit from a crypto wallet integration from Twitter .
-Elon Musk had shared as recently as Nov. 27 his intention for digital payments to be integrated into what he calls Twitter 2.0 – “The Everything App.”
-Although Musk did not mention Dogecoin in his tweet, the DOGE price skyrocketed. The community apparently speculated that DOGE was part of Musk’s crypto plans for Twitter .
-Moreover, rumors about Twitter’s crypto wallet plans surfaced already back in October after Wong speculated in an Oct. 27 tweet that the company had already begun work on a wallet prototype.
Does Musk Have Lightning Network On His Radar?
-Jack Mallers, CEO of Strike, commented a few days ago that Twitter could be become a payment app by adopting Bitcoin .
-Mallers said that by adopting the Lightning Network, Twitter can be a payments business and has the “opportunity to build payment experiences which traditional Twitter can’t.”
-“Because they cannot get into the business of debt and all the regulatory and fixed costs. Chase has that business on lock and now that is not a requirement anymore,” Maller continued.
