The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin, which surged above $79,000, has finally crossed the very level that served as a psychological dividing line for the world's largest corporate holder of the asset for several months.
Strategy's reserve of 840,447 bitcoins, acquired at an average price of $75,385 per coin for a total of $63.36 billion, has returned to profitability for the first time since the spring of this year. At a price of around $77,000, the company's unrealized profit was approximately $1.4 billion, or about 2.4% of the position's value, and this figure increased further as the price continued to rise toward $79,000.
The scale of the reversal becomes clearer when compared with the recent past. When Bitcoin fell to $58,000 in July, Strategy's unrealized loss reached approximately $13 billion, equivalent to 20.4% of the total acquisition cost, while just a week ago the company was sitting on paper losses of around $10.6 billion. The pressure from these losses forced Saylor to break his long-standing principle of "never sell a single satoshi." Since spring, the company has sold part of its reserve five times, realizing a combined loss of more than $102 million and selling approximately 6,916 bitcoins to fund dividends on STRC preferred shares. The return of the price above the average acquisition cost puts all these painful decisions in a different light: the company sold the asset exclusively below the breakeven point, while it continues to hold its core position at a level where it is now generating a profit.
Buy Scenario
Scenario #1: I will buy Bitcoin today when the entry point is reached around $78,700, with a target of $80,700. Around $80,700, I will close the long position and immediately sell on a rebound. Before buying on a breakout, make sure that the 50-day moving average is below the current price and that the Awesome Oscillator is above zero.
Scenario #2: Bitcoin can be bought from the lower boundary at $77,300 if there is no market reaction to a breakout below this level and the price returns toward $78,700 and $80,700.
Sell Scenario
Scenario #1: I will sell Bitcoin today when the entry point is reached around $77,300, with a target of $74,300. Around $74,300, I will close the short position and immediately buy on a rebound. Before selling on a breakout, make sure that the 50-day moving average is above the current price and that the Awesome Oscillator is below zero.
Scenario #2: Bitcoin can be sold from the upper boundary at $72,300 if there is no market reaction to a breakout above this level and the price returns toward $71,500 and $70,300.
Buy Scenario
Scenario #1: I will buy Ethereum today when the entry point is reached around $2,409, with a target of $2,475. Around $2,475, I will close the long position and immediately sell on a rebound. Before buying on a breakout, make sure that the 50-day moving average is below the current price and that the Awesome Oscillator is above zero.
Scenario #2: Ethereum can be bought from the lower boundary at $2,377 if there is no market reaction to a breakout below this level and the price returns toward $2,409 and $2,475.
Sell Scenario
Scenario #1: I will sell Ethereum today when the entry point is reached around $2,377, with a target of $2,310. Around $2,310, I will close the short position and immediately buy on a rebound. Before selling on a breakout, make sure that the 50-day moving average is above the current price and that the Awesome Oscillator is below zero.
Scenario #2: Ethereum can be sold from the upper boundary at $2,409 if there is no market reaction to a breakout above this level and the price returns toward $2,377 and $2,310.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
