BTCUSD
Hey! You probably didn't expect for us to be up here at these ranges back again so soon! Wishing everybody a great day and good spirits and thank you for joining me today! If you'd like a more in depth idea of scenario's for technical please read the linked related ideas.
Intro
Anyway, this is a follow up to my previous Idea and what a wonderful surprise! Bitcoin has continued to trade within the ascending triangle which we drew up and figured was forming based on the daily chart. And just like that, it has brought us perfectly in sync back up to that 44,500 level once again. While this brings out a lot of positive confirmations and good news to know that we we're right, it also brings about something more pertinent. What happens next?
A Technical Look
As far as technical is looking so far, we've been on point with our previous predictions and figures. We're back at Bitcoin's crucial 44-45k level of strong resistance and on the hourly Bitcoin has broken above it ever so slightly. If we look at the trend for how Bitcoin has been the previous times it reached this peak, we can predict that there will likely be a pullback and our chart will come back down and meet once more to touch the ascending triangle's bottom once more before we get that final bullish wave back up to Pre-February levels. Now while this is a likely outcome, we of course must keep in mind what could happen as well, we could see an even stronger dump which if it we're to push us below the ascending triangle it could make it much harder for a bullish wave to follow and would keep us down at these lower ranges for a bit longer than we may hope. However if we're frank about things, stuff looks Bullish in the long run. Though to reiterate once more, we will likely see one more pullback to the 40k range before getting that last wave and solid breakthrough we've been seeking for so long. So follow and keep tuned for updates on how things unfold.
Geopolitical Climate
Russia's invasion of Ukraine continues to rage on, however the battle has become more of a stalemate and has now become a war of attrition to put it. Russia limits it's goals. Up until now Russia has kept a firm foot down on regards of it's demands and goals in Ukraine however has changed after claiming that it's first phase of the "military operation" it was conducting in Ukraine was mostly done and that the focus would shift to liberating the Donbas region of eastern Ukraine completely. Such an acknowledgement is Russia's way of most likely seeking to claim some sort of "victory" and looking to at least gain something so as to prove that the fighting was not for nothing. This isn't exactly the best news of course but it signifies that Russia is likely willing to lower it's aspirations for Ukraine and the invasion may be over sooner than we may expect which would be the best outcome of course and what everyone is seeking.
Biden's Poland Speech
This section won't be short however to start off we've got something we haven't seen before on behalf of anything for quite that matter. And what is that exactly? Well, Biden commented as quoted: "For God's sake, this man cannot remain in power." Making the comment at the ending of his capstone address which he delivered outside the Royal Castle in Warsaw as he finishes a trip to Europe to attend what was a high-stakes NATO summit and to give reassurance on behalf of the United States to allies on NATO's eastern edge. Why is it important what was said? Well. As of so far, Biden has been very careful with his choice of words to prevent any unwanted provocation or escalation. However recently that has shifted, especially with his visit to Europe even calling Putin a 'war criminal'. Then on Thursday, Biden noted that the U.S would 'respond' to Russia if they use chemicals or biological weapons and would respond "In kind". This may seem like just some words being thrown around but that's anything but. Such is a serious shift from what words the president was using only a few weeks ago, only now, it's clear that the U.S isn't just going to sit back anymore and that point has been heard loud and clear. This could also be one of the main factors as to why Russia decided to announce it's change of strategy in Ukraine the very following day seeing as a large attack which it may have been scheming according to intelligence would no longer work as it would then bring in the involvement of the U.S which Russia most likely want's to avoid at all cost. A major fear is that Russia will turn to it's weapons of Mass destruction to bail itself out of a stalemate essentially however such would bring in the involvement of the U.S and possibly NATO as well thus it's clear such wouldn't be viable for Russia so that is a positive.
Closing Statement:
Coming up with these is never easy, so please give a like, share, and follow, that is always much appreciated!
Overall while thing's are nowhere near what we want, the market itself seems to be bullish on things progressing back to how they were previously and perhaps even better this time seeing as first, inflation rates hiking honestly didn't hit us that hard. And second, it is looking more and more like we may soon see an end to this unnecessary and brutal invasion of Ukraine on behalf of Russia. We are also seeing the West and it's Allies becoming increasingly more adamant and involved on doing as much as they can to stop Russia inflicting a new set of sanctions this week on more Russian government officials. Overall, things will work out in the end. Thank you so much and please have an amazing day!
To close off, may we pray for those in Ukraine and those being affected by this brutal war. Pray that they may be safe and protected, and pray that this war may come to and end soon. Thank you.
~ Rock
