peter-l

The "three mountains" that are pressing on Bitcoin's head - how

BITMEX:XBTUSD.P   Bitcoin

At present, if Bitcoin continues to go up, the resistance is not small, I summarized the "three mountains" First, the gap in the CME. CME is the CFTC-approved compliant bitcoin contract market, and although bakkt began to join last year, CME's bitcoin contract market remains highly influential. And the logic that CME's Bitcoin contract has a gap to fill has always existed. So we see a huge daily gap of $9,600 waiting for shorts to fill. Second, the trend of U.S. stocks. Bitcoin has been almost in sync with U.S. stocks since March, and now the Dow has rebounded to near its previous high, and if it hits a new high, it faces a second divergation of the monthly line, while the current U.S. stock market outbreak has not yet eased and the economic situation is not optimistic. The reason why U.S. stocks can continue to rebound, on the one hand, is the technology equity is significant, Apple and Tesla led the market played a decisive role. On the other hand is the Fed's water release, the flood of money (which I've said before, similar to China's 2008), and then there's Trump's election needs. But the market's eventual rise depends on two things: performance support and capital support. Performance is certainly not on the table, the funds are also virtual, the Federal Reserve can not unlimited water release, the final tap tightening, that is, when the leeks are harvested. Third, the top of the eth diverged down. eth is the engine of this wave of market, so-called technology upgrades, has spawned a blockchain-themed maverick market, link, ada, xtz, iota and so on have seen a sharp rise. But that doesn't seem to have changed the nature of the market. At present, the technical top of the eth is formed, turning on the adjustment mode. If these three problems are not resolved, Bitcoin's new high will become The Sky Garden of Barbieren.

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