BITCOIN FINDING A WAY TO BREAK THROUGH RESISTANCE

Right now, Bitcoin is finding a way to break through that $28,800 resistance. You should know that once Bitcoin breaks through and hold that level, we should see it shoot up past $30,000 where it would find its next resistance point. The last time Bitcoin was above $30,000 was in early June of last year. If you look a the broader market index right now, the market is sitting at over $1.18 trillion. There was a fair amount of green last week and there are see other top altcoins that we have been doing well like XRP. It looks like there is some development with their case, XRP is getting some bullish movement as well. XRP is leading toward the side that they are going to win this case and if they do win, we will be seeing much upside with the crypto.

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We have some other cryptocurrencies pumping alongside what Bitcoin has been doing. Unfortunately, Ethereum has not been pumping drastically as Bitcoin. We have been seeing Bitcoin pumping even more than a lot of these other altcoins. We are starting to see major issues happening within the banking sector. SVB alongside some other banks like First Republic, Signature Bank, Credit Suisse, and a lot of these other banks is under the umbrella what is happening with this industry is just showing how much weaker they are getting as the federal government continues to tighten the policy. The federal government continues to tighten its super aggressive monetary policy where they are increasing interest rates every single month. The more the US Federal government is slowing down their economy, the more Banks are going through difficult times.

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Right now, it looks like the faith of the entire banking sector is a little shaking and this is one of the main reasons Bitcoin has continued to pump in the last few days. As Powell mentions in the conference, we should expect to see credit tightening and this is a kind of free money era where banks are approving anyone for loans with little to no interest. My prediction on the landscape of the market is the fact that I believe that if Bitcoin can hold this support newer suppose level if we see it not going down blowing the $20,000 level and even holding at the level of $23,000 to $24,000. If the future of at least this year, we could see Bitcoin continuing to move up unless there is an absolute Black Swan event that none of us can predict.