Bears and selling forces returned to the cryptocurrency markets after breaking the important level of $ 37,500, and with the deterioration of the value of Bitcoin today, Monday, to below the level of $ 33 thousand, which is the lowest level since July 2021, while the market value of Bitcoin decreased to the level of $ 630 billion with the decline in the total market value Digital currencies reached the level of 1.54 billion dollars, retreating from its historical peak near 3 trillion dollars last November 2021.

The most important question now, which we seek to answer in the next article

What is happening ? Where is the market heading? How can we benefit from what is happening? What are the digital currencies that we think can be focused on in the next stage?

First of all, in my opinion, what happened in the market declines may seem surprising or perhaps one of the terrifying and confusing scenarios for investors or traders, but in fact it is within a general downward trajectory since the top of 69 thousand dollars to reach the expected aggregation range within 27500 - 23500 dollars, which we had previously expected Its occurrence in the Namazoon Center for Economic Research and can be referred to in an article entitled (Where are digital currencies heading and what do we do??) in the following link

Where are digital currencies headed and what do we do??

Speculation is increasing and the linkages between the recent interest rate hike and the decline of the US markets with the recent bearish movement of Bitcoin, but, let us first, even in light of the frantic institutional demand (buying and selling), do not forget that the idea and spirit of the digital currencies that were based on it is independence and financial freedom, and we must pay attention That this principle will not conflict or change, whether the bitcoin was a thousand dollars or a hundred thousand dollars, the solutions offered by bitcoin and Altz in general from digital currencies will remain in the service of a better future for humanity

Therefore, I think it is necessary to separate between the movement of hot money and speculation and between the future and belief in the basic idea!!! And we should not be dominated or overwhelmed by our thinking that the market cycle of ups and downs is separate from the future of digital currencies, and consequently of the disgusting mistakes that we have always seen at every market decline, the rise of pessimistic pens that talk about the end of bitcoin and zero, even if the speaker is Warren Buffett, With all due respect, he represents his personal opinion and does not represent the reality of his decision, or with any rise of optimistic calls for lunar flights, so our constant approach and slogan was No to optimism, no to pessimism, and yes to realism.

Gentlemen, the market is always subject to the principle of supply and demand, and these psychological trends of speculators are guided by one of the important indicators, which is the indicator of fear and greed. Today, May 9, shows a decline to the relative level of 11, where the cases of fear increased, which is a sign of the imminent state of the technical rebound, but it does not necessarily mean a rebound. the inevitable

For many months, we have been anticipating investment buying within the range of aggregation that we referred to a few months ago between the level of 27,500 – 23,500 dollars for Bitcoin. Today, I am pleased to announce that we are very close to entering the level of investment purchase, and therefore every wise person must calculate his account and prepare

Technical track monitoring

As in the above chart and the most important thing in our position, the current price is $32,600, it is expected that the bearish movement will continue towards the level of $28,500, then we will witness a speculative rebound that will bring us back at its maximum to 36,500, then we go back down again to the level of 27,500-23,500 dollars. We form a squashed bottom near the $24800 level, and this is the flag with God

What should we buy??

A question that I often get asked, and in my opinion, one of the most important digital currencies that it is preferable to put under the microscope and invest in the next stage are the following currencies

BTC , ETH , DOT , FTM , AXS , ADA , CRO , SOL , SAND , GALA , LTC , ENS , UNI , DOGE , THETA , UMA

This is my favorite list of 15 digital currencies, which I prefer to start investing in when the market reaches the expected collection range.

Best wishes to all, good luck to all

Iyad Abu Aref

Founder of the Namazon website