BTCUSD: Done with correction & ranging for a while?
Much has been said so far on BTC's future fall or rise potential. I prefer what the chart is implicating. Firstly, following several years accumulation 65K is not were BTC is going to crash. In another words, during this cycle I found how to technically find a target in which I truly believe:
Though bitcoin is much more expensive than ever before, I have previously mentioned several times the followings:
1. Number of "New Blockchain Wallets" has been ever growing since 2017 that was about 5 millions & now more than 80.
2. Our problem with the current fiat currencies is dead serious. All countries are generating more & more of them and this triggers inflation. Some 1.2 Quadrillion USD (Bonds, Stocks, Properties, Gold & etc.). Money is quite enough to explode this bullshit system which is based on nothing buy printing more electronic fiats.
3. Cryptos are a Totally New Asset Class capable of absorbing galaxial amount of fiats. The chance for creating or finding another new asset class for humans is actually very rare. This won't change a lot until we can innovate Quantumic Processing Systems. Then, some really amazing new ideas & applications will come into existence of which we have no clue now. Quantomic-based AI will be a totally new idea which sounds to be really challenging and scary in a way, but this will lead to creating & innovating unbelievably New Asset Class which is an after math of a digitalized era.
4. Some say it is going to see even 3000 USD! This is an absolute bullshit. Yeah! There is no guaranty for that not to happen based on uncertainty of the future. Yet, technicallistically, we need no see a first Monthly bottom with the RSI (2) first or with Weekly RSI (14) as well and the price starting to make HHs & HLs.
5. As is: now weekly RSI 14 is making Higher Low which is vividly a positive divergence to price chart and is a promising sign.
6. As is: now Weekly RSI 2 is going to make another even or higher low and this also is promising if you have look on it.
7. Many coins has drastically corrected & I insist on the word "correction" since based on my understanding market is still bullish.
8. Based on Market Cycles & Phases:
8.1. Accumulation
8.2. Distribution
8.3. Re-accumulation-Redistribution
8.4. Market UP
8.5. Market DOWN
we are now passing through the third Phase of this market. This is going to last not more than another 60 days in worst case.
One last thing to be said is : "The time is ours with cryptos and the best performers of them which has just been started." There are a lot of ifs, coulds, shoulds, woulds, even & odds said by average & celebrity people. We need to appreciate the change whenever we afford instead of making assumptions without roots in data, maths & financials.
This is for learning purposes only and it is not a financial advice at all.
Though bitcoin is much more expensive than ever before, I have previously mentioned several times the followings:
1. Number of "New Blockchain Wallets" has been ever growing since 2017 that was about 5 millions & now more than 80.
2. Our problem with the current fiat currencies is dead serious. All countries are generating more & more of them and this triggers inflation. Some 1.2 Quadrillion USD (Bonds, Stocks, Properties, Gold & etc.). Money is quite enough to explode this bullshit system which is based on nothing buy printing more electronic fiats.
3. Cryptos are a Totally New Asset Class capable of absorbing galaxial amount of fiats. The chance for creating or finding another new asset class for humans is actually very rare. This won't change a lot until we can innovate Quantumic Processing Systems. Then, some really amazing new ideas & applications will come into existence of which we have no clue now. Quantomic-based AI will be a totally new idea which sounds to be really challenging and scary in a way, but this will lead to creating & innovating unbelievably New Asset Class which is an after math of a digitalized era.
4. Some say it is going to see even 3000 USD! This is an absolute bullshit. Yeah! There is no guaranty for that not to happen based on uncertainty of the future. Yet, technicallistically, we need no see a first Monthly bottom with the RSI (2) first or with Weekly RSI (14) as well and the price starting to make HHs & HLs.
5. As is: now weekly RSI 14 is making Higher Low which is vividly a positive divergence to price chart and is a promising sign.
6. As is: now Weekly RSI 2 is going to make another even or higher low and this also is promising if you have look on it.
7. Many coins has drastically corrected & I insist on the word "correction" since based on my understanding market is still bullish.
8. Based on Market Cycles & Phases:
8.1. Accumulation
8.2. Distribution
8.3. Re-accumulation-Redistribution
8.4. Market UP
8.5. Market DOWN
we are now passing through the third Phase of this market. This is going to last not more than another 60 days in worst case.
One last thing to be said is : "The time is ours with cryptos and the best performers of them which has just been started." There are a lot of ifs, coulds, shoulds, woulds, even & odds said by average & celebrity people. We need to appreciate the change whenever we afford instead of making assumptions without roots in data, maths & financials.
This is for learning purposes only and it is not a financial advice at all.
