As you can see we have just broken through the neckline of this nice inverse H&S formation.
We managed to overcome the 12k strong resistance level - which is a very bullish sign cause after that there is really no strong structural resistance until the last ATH level at around 20k.
The take-profit target for this inv. H&S formation is almost exactly the last ATH established in Dec'17.
20k on the horizon folks! :)
From a fundamental perspective the situation is even better. We are entering into a Global Depression that will last quite a while. Interest rates will stay low cause governments cannot afford to pay higher interest on their enourmous debt burden. Tha same stands for the overleveraged corporate sector and households.
Money printing is for those clueless Keynesians the only solution. They will try to print the way out of this crisis and they will fail - good for us crypto&precious metals investors ;)
US elections coming in less than 2 weeks. Be aware that if Trump gets reelected the stock market will rally giving an additional boost for Bitcoin! If Biden wins... well it will be more problematic. The stock market will surely dump dragging cryptos down. But after a while democrats will implement some more stimulus, money printing, redistribution etc. This will be bullish for stocks and extremely bullish for cryptos (since recently stocks and cryptos are strongly correlated).
Remember that: During a very dark night the stars are even brighter.
Do not let the fear take over your heart. Stay positive. Stay calm. And buy some Bitcoin ;)
We managed to overcome the 12k strong resistance level - which is a very bullish sign cause after that there is really no strong structural resistance until the last ATH level at around 20k.
The take-profit target for this inv. H&S formation is almost exactly the last ATH established in Dec'17.
20k on the horizon folks! :)
From a fundamental perspective the situation is even better. We are entering into a Global Depression that will last quite a while. Interest rates will stay low cause governments cannot afford to pay higher interest on their enourmous debt burden. Tha same stands for the overleveraged corporate sector and households.
Money printing is for those clueless Keynesians the only solution. They will try to print the way out of this crisis and they will fail - good for us crypto&precious metals investors ;)
US elections coming in less than 2 weeks. Be aware that if Trump gets reelected the stock market will rally giving an additional boost for Bitcoin! If Biden wins... well it will be more problematic. The stock market will surely dump dragging cryptos down. But after a while democrats will implement some more stimulus, money printing, redistribution etc. This will be bullish for stocks and extremely bullish for cryptos (since recently stocks and cryptos are strongly correlated).
Remember that: During a very dark night the stars are even brighter.
Do not let the fear take over your heart. Stay positive. Stay calm. And buy some Bitcoin ;)
