Crypto investment analysis: BTC will run bullish for long term but little bit cautious, crypto expert revealed !!!

Overall, the report suggests a long-term bullish outlook for Bitcoin, but is cautious in the short-term until technical or data points prove otherwise.

BTC was down -4.5% at the low timeframe range, however the support level $30000 had failed on last week. Somehow technical analysis suggest a bearish outlook for short time range. Moreover in the past week BMI (Bitcoin Macro Index) algorithm has experienced increasing numbers. The decline was confirmed by technical indicators and the clean algorithm of the Bitcoin Macro Index.

Charles Edward, a well-known analyst of the crypto market, released an update on the state of the Bitcoin (BTC) market. The report highlights the continuation of Bitcoin's downtrend, which has lost its key support, the 50-day moving average (MA).

Short-term technical data shows a break of support at $30,000 and the emergence of a new decline, with a target around $25,000.

On the other hand, the 3-way model, a new open source algorithm, values ​​the S & P500 using only three important points, indicating that the markets are valued today, and there is room for more, despite recent bearish signals. Despite the bearish outlook, the report suggests that the macroeconomic backdrop remains positive for Bitcoin over the next few years.  

The Federal Reserve suspended rate hikes and the S&P500 had its longest winning streak in years. However, the technical data and the key points now show a "premature" signal, indicating that the market can wait for a stimulus such as the approval of the Blackrock ETF.

 Overall, the report suggests a long-term bullish outlook for Bitcoin, but is cautious in the short-term until technical or data points prove otherwise.

Technical analysis and possibilities:

Today BTC price is trading at $29144. Last 24 hr. price range was observed between $29087-$29248. Price change ratio observed  0.57 % to downside and 1.04% to upper side.

So for now, Technical analysis for BTC is standing on oscillates movement mode for running week, today price range was stable between $29087-$29248 range.  However right now the price of BTC could face a critical resistance at $29500 and psychological barrier at $30000. 

Our technical observation could predict that the price of BTC could stable between $28850-$29550 range. For the running momentum if the price could break the resistance level $29500 then it might go for the next resistance level $30200-$30500. 

On the other side if the price fall below $28800 basic support level than it’s more likely to reach new support level $28000.