As 2021 has reached its climax, many cryptos are trying very hard to buckle up to manifest a decent uptrend. But when the most dominant crypto Bitcoin is going on very passive right now swinging around $47,000. And hence the entire market remains uncertain without having a clear picture of ending the yearly trade of 2021.
The BTC price has dipped a little but the impact is macro-wise, however, there has been no significant trend change. The asset is just consolidating inside the two Bull Market EMA’s which are the 21-Weekly EMA and 50 – Weekly EMA in between $45,112.50 and $51,705.11. And hence it appears that BTC has developed a new higher low within the current EMA range.
On the other hand, numerous negative scenarios also table with macroeconomics risks looming driven by Omricon, tax narrative, and the gradual interest rate increase by the FED for 2022. And hence the time has come that the whales and the bulls are required to get back into the ring to overcome the above constraints. Maybe the asset could make a huge move as one of the whales has just woken up from a long sleep.