- support found on MA 200 weekly, which has NEVERbeen broken in the history of Bitcoin
- crossover on daily
BTC could be headed to MA 200 on 4h at $7600, or even higher to around $8000 at MA 200 and 50 on daily, which by the way are about to cross, signaling a death cross.
Whales could use this move to lead people to think that Bitcoin is going to the moon again, bringing FOMO into the market, which can be leveraged to create a massive dump and consequent panic, by liquidating retail money.
My overall mid-long term view is definitely , because of fundamentals. The markets are entering a recession, which has just started.
In my previous chart I pointed out some fractals, which are marked on the chart with circles:
- a huge rally
- a bounce back with consequent decline
- a test of the resistance from the two previous highs
Now I add another possible point in the , which is shown in the azure circle: a huge dump that stops on the major baseline of the overall , crashing through MA 200 weekly like a bullet through butter. This could bring Bitcoin to $3000 very rapidly, like it happened a could of weeks ago.
Then, a year or so of sideline moves, to finally start a run again when Bitcoin breaks the upper line of the trend, as shown in the chart.
crisis -> deflation shock
qe anouncement -> shifting to limited assets like btc or gold
stock market shut down + domestic flight cancelling + exponential growth of infections and deaths -> panic liquidation
money overflow + higher demand + lower supply -> massive inflation shock
households are made, inflation rate is calculated -> hyper-inflation 15-20%