2024-03-28 • Updated
Robert Kiyosaki, the author of "Rich Dad Poor Dad," has updated his bitcoin price forecast, now projecting the cryptocurrency to hit $100,000 by September. He plans to acquire more bitcoin before April, attributing his decision to the upcoming halving event. Kiyosaki advises investors to consider adding bitcoin to their portfolios and suggests silver as an alternative investment. He underscores the importance of taking action and acquiring real assets like silver and bitcoin. Kiyosaki has been increasingly vocal about his support for BTC, urging investors to buy as much as they can afford and predicting a $300,000 price target for this year. Let’s see if the technical factors agree with Robert’s point-of-view.
Bitcoin (BTCUSD) as seen on the daily timeframe chart above is currently in an overall uptrend - as defined by the consecutive higher highs and lows, as well as the bullish array of the moving averages. There is also a trendline support on the daily timeframe, though I do not expect price to drop that far in the meantime.
The trendline support on the 1-hour timeframe seems more feasible as a target for the resumption of bullish pressure due to the fact that the trendline aligns perfectly with the 100-period moving average, as well as a drop-base-rally demand zone. In line with this, my sentiment on BTCUSD remains clearly bullish.
Analyst’s Expectations:
Direction: Bullish
Target: $75,000
Invalidation: $68,000
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
You can access more of such trade ideas and prompt market updates on the telegram channel.
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone
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Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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