Pumped to 3sigma on the 55day volatility average, good place to take profits then load up again with scales in starting below the average price of $17300 or so, holding at that price would be a good sign
rejection off the .618 fib of this cycle
rejection off the 200d ema
rejection off last cycles high
topping out the RSI & KDJ
Always majority long, but all the...
Looks bullish 8 period & 55period ema & sma last cycle bottom vs now
what else in the world do you buy?
commodities super cycle they say
all commodities are already beyond overbought besides Bitcoin & Litecoin
Bitcoin is going to go up to the previous resistance established at the previous 1.618 fib. BTC Held the 200week sma & ema, the worst is over. New record set for days under those averages. In the past we had to tell people about bitcoin, they didnt know about it, now everyone on earth knows about crypto. We adopted wallstreet, central banks, politicians, & entire...
Weekly rsi reached the lowest levels in history, bottom of long term log channel, looks a lot to me like total active wallets is going to go up more than price will go down. Unlike most coins ltc maintained a higher low in the march 2020 crash and made a higher high, barely but it did. Ltc looks to be bottoming on the btc pair as well. Litecoin has been forgotten...
BTC is historically the most uncorrelated asset. The recent correlation since march 2020 is spread across all markets, but btc has still maintained its uncorrelated status contrary to popular belief. Also the s&p has miles to go before it hits its historical moving average lows during bear markets, while btc has approached its 200wema and broke it during the luna...
Total active wallets should be approaching 10M but failed and cant beat 2017 levels, price has outpaced adoption the entire pump
no crypto gift cards still, too much regulation hurting growth
legacy market credit impulse downturn will likely cause new legacy entities to cut high risk stuff first
IF the bull market is back on full like all previous cycles, then 100k by eoy is just the tip
Setting a higher high on all exchanges is pretty undeniable
I dont think dips will go very deep or last long
however 200day volatility is at near all time high with near all time high sigma values while 55d is the exact opposite with near all time low volatility & sigma...
In 2008 the fed kept lowering rates because the indexes had a hard time recovering. We have seen new ATHs right away this time, so I think that the FED will try to return rates to 2.5% and get back into the historical channel if possible
Still in bear mkt
global real economy rekt
legacy has peaked
only bullish hint is int rates on bonds & btc have had a strong correlation for 1.5yrs
is legacy actually exiting Bonds into BTC? has yet to be seen, but thats the magnitudes of order number of users and dollars that would reduce volatility and increase mcap enough to avoid a negative...
It could be all over
In retrospect not sure that there can be better news or mass adoption than during the first half of the year. With all the stimulus checks and bullish news and low int rates, nation states declaring it legal tender & currency....
The big question is if there will be a second wave of retail adoption to get us to the 100M unique wallets...
Bitcoin can do everything bonds can do but better.
There is a 100% correlation in history between the total fiat supply and price increases.
All debt based on bonds is now massively negative yielding against even the ridiculously unrepresentative cpi.
In real terms you have lost at least 15% of purchasing power in the last year alone, then you paid 50% taxes on...