#Bitcoin, FED Rate Rises, US Inflation index & Key moments For me, The FED interest Rate raise had little Direct effect on BTC PA What DID have bigger impact were the effects on companies like LUNA and FTX ( though that was very possibly Always going to Crash) - the increase in Loan repayments being the Cause of instability and so people got cold Feet BTC PA is...
The Chart is possibly one of the most important to me right now, While everyone is waiting for Bitcoin to push back up and be the "store of Value" that everyone needs in this age of unsettled Finance, the old School is still saying that GOLD will do just that, as it has in the past The main difference between the two is that People Jump for Joy at a 10%...
Old chart now topical With the USA "Debt Ceiling" being talked about more and more in public, it looks like this fractel may now loose some accuracy but I do expect PA to run along these lines. The Longer PA follows a fractel, the more chance it has of Falling off Hopefully, the 200MA (Yellow) will continue along current path and PA remain above the MA The Big...
And on a longer Term Bullish note I been watching this CUP & HANDLE since late 2018 Note : the vertical orange line from Dec 2018 Low to neckline is the same length line from Lower trendline to Top trendlineon right in Channel ( Measured Move od CUP ) It fits the trendline GAP perfectly Also Note the similar day count to Double Bottom IF PA comes back down to...
As you can see from the arrows, PA has pulled back everytime a 618 Fib Circle has intersected with the trendline formed off the 2017 ATH This may not happen but on the previous 4 occasions, it has happened. And the Daily chart shows us with a bearish pennant, with an apex on that line IF PA does pull back, 25K is an expected Target and should find...
Of all the "Projections" about Bitcoin future price, THIS is the most Valid projection for me 2013 ATH to when the 50SMA went under PA to when it rose back above PA is the SAME number of days EXACTLY as now if Valid, Leads to a near $800K BTC by April 2025 Will it remain Valid ? Impossible to say BUT world circumstances right now could lead for the need...
So while we wait on the next instalment of the DXY support Group ( FED) and its expected 25 point rise, which may possibly be the last one for now, I post the updated chart of its effect on Bitcoin PA and the US inflation index, which the rate rises are meant to be curbing You will alos note that the rate rises have had a minimal effect on BTC PA really, it has...
Bitcoin Monthly closed Green but as we can see very clearly, under Massive resistance, which, once turned, this will be Strong Support as it was previously before PA ran up to the current ATH Volume dropped significantly last month though. Possibly led by uncertainty to world economic circumstances, However, Bicoin is outperforming Gold Overall, Crypto is...
think it is also worth considering this as a possible ABC correction, with C going down to around 24K , on a trendline, before we really see a recovery The Move to B may not be over yet though. Look at the MACD. Went below 0 last time before recovered fully COULD happen again Time Will tell
Bitcoin Weekly Close Red Engulfing No problem really as there are plenty of occasions where this has happened and it has been ignored shortly after. PA rejected off the "global" 5.236 fib circle, which also is the "Local" 4.236 Previous pull back "Localy" was 21.4 % - if that happens this time, we Will vists 24300, which I think is unlikely but anything is...
Bitcoin has often completely ignored BEARISH signals but a RED Engulfing candle Such as the one that looks like being the weekly close is worth paying attention to We do have the 200MA (yellow) below which may or may not offer support The Word of the Week HAS to be CAUTION
There is little doubt that Bitcoin Has created a Cup and Handle pattern but the real question is, Which do you believe is more accurate. The LOGARITHMIC chart shown has a measured move to $128K in time ( by end of August if it follows the upper line of resistance since 2017) The LINEAR chart however only goes to $42400 and probably within the next month or so ...
There are a number of reasons, even just in this chart, to be buying and holding Bitcoin right now. This is obviously, Just my opinion and NOT ADVICE Before I explain why, it should also be remembered that the Real world Fundamentals right now can turn this all up on its head, so ALWAYS have a plan for Every outcome So, the main chart shows a number of...
PA continues in channel and has remained above the 1.618 fib line but has now bumped into some overhead resistance. On a weekly chart, MACD has also remained Bullish and just above 0 , so th eout look is good However, looking at the daily we can see that MACD & RSI is very Overbought for a long time now On th eshorter Time frames, 1 ^ 4 Hour, MACD is near...
As we can see on the weekly chart, PA os now coming to the upper trendline of the long Term descending channel Not only This but on the daily chart we can clearly see how it is also coming to the Local 4.236 Fib Circle ( Red circle) - This is often a point of Rejection as it has been on many occasions in thie "Cycle" The Daily MACD is OverBought, as is the...
There is a little CME Gap between 20999 and 20300 that may get filled while we see Bitcoin PA Cool off for a bit. Its not really a large enough Gap to be certain but I certainly have an order there incase PA wicks down Would be a superb buying oppertunity
I just noticed that the Bitcoin TVL ( total Value Locked ) is just below where it was on the Nov 2021 ATH and yet the current Price of Bitcoin is less than Half what the ATH price was Mean while on the ETH TVL chart, it is a very different story Could it be that sentiment for ETH is Low with the Fork coming in ? But Bitcoin is certainl leading the way and...
This is a very simple and clear chart. The Yellow line is the Value of the $ when it was pegged to the GOLD standard In 1971, President Nixon "pressed the Button" and finalised the departure of the $ from Gold and the Value began to be set by "Government" And Look what happened Ever since. Onlt once, for a period of 3 years, did the Value of the $ exceed what...