Bitcoin In Correction

Dec 20, 2021

Bitcoin Down 30% From All-Time Highs

 

In our past updates, I indicated the odds were high that Bitcoin would pullback since it was approaching major resistance on an advance that had occurred on weak volume. And that is exactly what has occurred. Bitcoin is in a definitive correction and down about 30% from all-time highs set last month.

With Bitcoin in a downtrend, now is not the time to be buying. Now is the time to monitor market technicals and wait for a change in trend (breakout). Levels of support are logical areas where price could bounce or consolidate which would be the initial stages of a change in trend. Areas of support to watch are $40,000 and if that fails, $30,000.

For a more detailed explanation click the link below to view our video update.

 

 

 


Craig Thompson, ChFC

https://assetsolutions.info/

Email: craig@assetsolutions.info

Phone: 619-709-0066

Asset Solutions Advisory Services, Inc. is a Fee-Only Registered Investment Advisor specializing in helping the needs of retirees, those nearing retirement, and other investors with similar investment goals.

We are an “active” money manager that looks to generate steady long-term returns, while protecting clients from large losses during major market corrections.


Asset Solutions may discuss and display, charts, graphs, formulas which are not intended to be used by themselves to determine which securities to buy or sell, or when to buy or sell them. Such charts and graphs offer limited information and should not be used on their own to make investment decisions. Most data and charts are provided by www.stockcharts.com.

Asset Solutions is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

All charts provided by: StockCharts.com

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