jazerbay

BTC-USDT (Bottom at 30k?) and fundamentals --please read--

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello traders and investors!

Here in this idea I would like to go over my personal view on Things to Consider ๐Ÿ˜„๐Ÿ‘‹๐Ÿ˜ lets take a look!! ๐ŸŒ


Technically:

We have managed to break a trend line to the upside which we failed to do 2 times before since MAY 19th!

I am looking to gain support at approximately ๐Ÿ’ฒ38,568 ๐Ÿ’ช๐Ÿ˜

On the 8th of June DAILY chart BTC we have a hammer candle, which indicates Bullish price action ๐Ÿ‘Œ๐Ÿถ๐Ÿ”จ

4 hour chart view, as drawn out above, we have a possible inverse head and shoulders (Head or lowest point being ~30k) ๐Ÿ‘๐Ÿ‘€๐Ÿฎ๐Ÿ†—

Possible bull targets are listed above on chart โซ๐Ÿ“ˆ๐Ÿฎ

We also have a nice bear target in the event that we failed to break the 50 fib retracement possible resistance line (BLUE๐Ÿ”ต DASHED LINE๐Ÿ“ˆ) on our second attempt soonโฐโณ๐Ÿ“Œ.


Grayscale:


Many institutional investors had buy pressure at 30k, so far that is proving to keep us in an uptrend

Grayscale (owns approx 655,000 BTC ) likely bought at 30k and now we can return to bull trend until approximately July 19th.

On July 19th we will possibly see a large dump, so I have my second bull target ending on that date..


Elon Musk:


Revoked his statement about BTC and is planning on accepting BTC as payment for TESLA cars in the future. Source-ELON MUSK twitter

"When thereโ€™s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions."


El Salvador:

Soon, citizens can use BTC to make payments for everyday goods etc., with no capital gains tax.

This could be very good, they have already engineered the process and put to use mining BTC with volcanoesโ›๐ŸŒ‹, but are seemingly rushing๐Ÿ˜ฌ๐Ÿ˜จ (90 day timeframe to finish the infrastructure!)

The process of making this HUGE transition that the world has never seen a country attempt is maybe not so simple so let's not focus extremely on this fundamental news until we see further development.๐Ÿ‘



Wyckoff Distribution:


We seemed to have possibly finished redistribution and accumulation, which makes room for some upside.



Let's see
, and always remember โฌโฌ๐Ÿ›‘This is not financial advice๐Ÿ›‘ Please use a stop loss, and keep up to date with the current news if possible! This is my personal view based on fundamental overview, and technical-analysis. I always recommend considering multiple views/charts before making investments!

Thank you so much!!!!!!! ๐Ÿ›ธ

Any thoughts ๐Ÿ’ญ๐Ÿ’ก, questions ๐Ÿ™‹โ€โ™€๏ธ๐Ÿ™‹โ€โ™‚๏ธโ“, good ๐Ÿ‘, bad๐Ÿ‘Ž, happy ๐Ÿ˜„ or sad ๐Ÿ˜ฅ, in the comments always welcome and trade safely!!!!

Jazerbay โ˜ฏ








Comment: Still bullish on BTC, looking to break up and out of this descending-channel. Thank you so much and trade safe all!

Jazerbay โ˜ฏ

Comments

Wyckoff on the daily is just getting started along with the death cross
+1 Reply
jazerbay BitcoinMillio18
@BitcoinMillio18, great chart thank you for sharing! ๐Ÿ“ˆ๐Ÿ“‰ ๐Ÿ˜„
Reply
Good job
+1 Reply
jazerbay AthenticWhale1
@AthenticWhale1, wow appreciate it mate ๐Ÿ‘‹
Reply
That is a good scenario play. Thanks for sharing your idea today.
+1 Reply
jazerbay PolarHusk
@PolarHusk, yes anything is possible and I am bullish on BTC at the moment, thank you for sharing your input ๐Ÿ˜„๐Ÿ˜„๐Ÿ˜ƒ
Reply
Clear analysis
+1 Reply
jazerbay YMGroup
@YMGroup, thank you very much!!
Reply
Hi my friend! very accurate
+1 Reply
jazerbay AtlasTrades
@AtlasTrades, hello ๐Ÿ˜ƒ๐Ÿ‘‹thank you let's see if we can do it, I think we can!!๐Ÿฎ
Reply