BTC Market Cap Falling Wedge BreakoutBTC marketcap has been forming a falling wedge (bullish breakout pattern) since its recent highs in October and November 2021. This pattern was broken with the dip to 33k, but mcap has recently re-entered the wedge and broke out this morning. I would expect at least 40% increase of BTC market cap, or around $1 Trilion.
BTC trade ideas
BTC/Crypto market - Cyclical analysisSome quick comparisons to last cycle and this cycle,
Timing compared to last cycle shows we are in the date range for the bear cycle to be confirmed.
Points of similarity's:
-Halving may have significant impact in timing to reach ATH again
Points of difference:
-Last cycle didn't have as large of a 'false bottom'.
-Confirmation of bear for last cycle was on month 3 (%70 drop). We can see confirmation by the end of this month, maybe even next month.
Tell Me What's Wrong With This ChartThe answer is that it's probably not bullish enough.
Bullish divergence on the MACD
Bullish divergence on the RSI
Looking suspiciously like the END of a boring W4 correction
W5 corrections are usually the steepest
Most of my models point to major volatility after March, but there may be upside in BTC into the summer?
For now, the accumulation phase has ended. It was good while it lasted for those latecomers who wanted a fair shot. Not for those who bought at the top with no conviction.
Be careful out there and check my last post for the short term wave structure out of the bottoming pattern on BTC.
Bitcoin's Intrinsic Value
As per CoinMarketCap, 18.9 million Bitcoins have already been mined and are in the circulating supply.
In total, at least 3.7 million Bitcoin or about 20% of all BTC currently in existence are most likely gone.
BTC intrinsic value = $ 52 236
A Possible scenario is shown in the chart.
This summer will be an amazing time to buy bitcoin!Patience brings profits in this analysis I dissected best areas to get active in a major way. Through a fractal understanding of the market if you know how the 3 scenarios I drew go then we can take that knowledge down to a 5,1 min chart and operate off of the same bases and bank some huge profits. This is not financial advice, I draw my charts like this in order to prepare for volatility, like if you agree!
BTC Market Cap (Time to resume the bullish momentum)This is the weekly timeframe of BTC market cap, as you can see the BTC often bounce off the trendline which acts as an support. Base on this, i feel BTC is gaining dominance as we reclaim back 1 trillion market cap for BTC. As history data proven, during the period where we count down to end of the year, it's gonna be bullish for crypto market.
BTC Market Cap
Bitcoin is no longer the optimal investmentSo I figure that during a time of hyper inflationary currencies, it would be best to compare bitcoin to a basket of stocks. Asset vs Asset.
this is what we have as a chart when we do that. We can see it is down trending vs other assets.
Even though it is going up in USD terms, we could argue everything is, including my bag of potatoes.
I think bitcoin WAS the better investment in 2019-2020, but will not be for the medium term future.
Once again, this does not mean it will not go up in terms of USD, only that it will lag in comparison to other assets.
BTC - RISK/REWARD 1:11 - BULL SCENARIOBitcoin might be giving us a good entry for upper continuation of this bull market :
1. RSI entering in oversold area
2. STOCHASTIC showing reversal
3. Important FIBONACCI level
The support line that we formed is still not properly tested, but if bulls manage to keep this might become a long-term Support and we might see the 5th leg up.
Will keep this updated!