The chart speaks for itself mostly. PA still in long term descending channel, Wicked down to lower trendline and found support
VRVP shows a lot of resistance above and not a lot of support below IF PA breaks out of channel
Fundimentals right now are very Biased against Crypto and to many extents, unjustified. IT is the simple Fact that Crypto has been relent on Banking to ALLOW funds into Crypto space and as we have seen, the issues on some banks liquidity forcing Crypto to pay the price. It is much the same situation as we had in 2008 - Banks Lending to possibly unsecure clients.
Once Crypto has its own Financials, independent of the Trad Fi banking System, will this change ?
Only if the Cobwebs of " I lend to you, you lend that out and then it gets lent again and we all crash when one can't pay" Stops happening.
Anywya, on a TA Front, PA broke out of long term resistance and is currently coming back down to test it as support Simple Bullish behaviour
Just needs to be "Allowed" to carry on......The FED may try and find something else to try and weaken t
VRVP shows a lot of resistance above and not a lot of support below IF PA breaks out of channel
Fundimentals right now are very Biased against Crypto and to many extents, unjustified. IT is the simple Fact that Crypto has been relent on Banking to ALLOW funds into Crypto space and as we have seen, the issues on some banks liquidity forcing Crypto to pay the price. It is much the same situation as we had in 2008 - Banks Lending to possibly unsecure clients.
Once Crypto has its own Financials, independent of the Trad Fi banking System, will this change ?
Only if the Cobwebs of " I lend to you, you lend that out and then it gets lent again and we all crash when one can't pay" Stops happening.
Anywya, on a TA Front, PA broke out of long term resistance and is currently coming back down to test it as support Simple Bullish behaviour
Just needs to be "Allowed" to carry on......The FED may try and find something else to try and weaken t