Hello dear traders, I hope you had a nice rest and weekend, currently in a few hours we are starting a new trading week, so let's take a look!
BItcoin has been setting the trend for us in the last few months, especially during the Asian session when there were always the highest trading volumes which of course then set the trend.
Since last weekends significant weekly trend setting came during the first Asian session of the new week we can now see what this week will be like and if the Asians can give us a clue as to how to direct our trades.
Bitcoin overall last year which has been all down has become the most traded over Asian time and the whales there have been sending bitcoin lower for a long time. How next ? I have one simple opinion
UNLESS THE FED START PRINTING MONEY AGAIN, THE BEAR MARKET WILL NOT END, WE MAY SEE A SHORT-TERM TREND BUT NOT A BULL MARKET !!!
I THINK WE REALLY NEED TO FORGET ABOUT CYCLE ADOPTION AND ALL SUCH FUNDAMENTALS AND ESPECIALLY CHART INDICATORS AND THINK ABOUT WHY EVERYTHING IS PROBABLY DOWN.
If we look not far into the past we find that BTC had already reacted to one single thing earlier in the last bearmarket and ran up when the nasty but mighty stop loss hunter Jerome Powell said enough is enough and started printing money again because interest rates were high and people were already going crazy.
This tells you very simply that high interest rates do not have an acute negative effect on stock markets, in the past years stocks only started falling when interest rates were already high as they are now and we have been going down for a year! The current problem of the US dollar, that is, the advantage problem it has for cryptocurrencies. consists of a very simple thing and that is quantitative tightening, simplistically, pulling printed money out of the market.
IF UGLY POWELL DOESN'T TURN HIS MACHINE ON, THERE WILL BE NO BOTTOM!!
BItcoin has been setting the trend for us in the last few months, especially during the Asian session when there were always the highest trading volumes which of course then set the trend.
Since last weekends significant weekly trend setting came during the first Asian session of the new week we can now see what this week will be like and if the Asians can give us a clue as to how to direct our trades.
Bitcoin overall last year which has been all down has become the most traded over Asian time and the whales there have been sending bitcoin lower for a long time. How next ? I have one simple opinion
UNLESS THE FED START PRINTING MONEY AGAIN, THE BEAR MARKET WILL NOT END, WE MAY SEE A SHORT-TERM TREND BUT NOT A BULL MARKET !!!
I THINK WE REALLY NEED TO FORGET ABOUT CYCLE ADOPTION AND ALL SUCH FUNDAMENTALS AND ESPECIALLY CHART INDICATORS AND THINK ABOUT WHY EVERYTHING IS PROBABLY DOWN.
If we look not far into the past we find that BTC had already reacted to one single thing earlier in the last bearmarket and ran up when the nasty but mighty stop loss hunter Jerome Powell said enough is enough and started printing money again because interest rates were high and people were already going crazy.
This tells you very simply that high interest rates do not have an acute negative effect on stock markets, in the past years stocks only started falling when interest rates were already high as they are now and we have been going down for a year! The current problem of the US dollar, that is, the advantage problem it has for cryptocurrencies. consists of a very simple thing and that is quantitative tightening, simplistically, pulling printed money out of the market.
IF UGLY POWELL DOESN'T TURN HIS MACHINE ON, THERE WILL BE NO BOTTOM!!
Comment:
The price last night as I wrote again during the Asian session made a significant move downwards and Bitcoin made a short-term low around $16160
Comment:
We were stuck in a range today, let's see what the Asian session brings