This chart compares the Bitcoin chart to the St Louis Fred. A very different view of what Bitcoin could do next if this neckline breaks. Will be watching these fib extension levels overhead and add more cycles as I see fit.
An observational study on Bitcoins price versus the overall money supply paints an interesting picture.
Are we now the most oversold on a relative basis to the money supply?
Previous Cycles (I'd argue there's been 3 now, on the basis of halving's and time-cycles)
Previous times we retraced to the 38.2% fib extension
This time 61.8%, 2 full levels below
BTC when divided by M1 (Money stock) we can clearly see the 200WMA acting as major support Dec 2018, Mar 2020, Jul 2021 (except for once when money supply expanded after covid crash) we're currently 15-20% away from forming a bottom. please share your comments and let me know what you think about this
Hi Everyone
In today's analysis, we're taking a look at the overall stock market - and it's not looking great. But what's looking even worse, is the M1SL chart - in other words, the money printing chart.
From the analysis we can see that we live in unprecedented times and it might be time to ditch the dollar and the stock market ... for crypto.
The problem,...
Have you freaked out already? BTC got rejected by 2019 small bull run high. Fractal of the 2017 bull market would also be rejected by the trend line we just bounced off of. To get the ATH of BTC/M1 BTCUSD would have to go to around 100k. We could have already bottomed, or soon will. Manage your risk. Take profits when everyone is greedy, to be able to re-fuel in...
