celticworks

celticworks

BTC price action has confirmed a downward break below a daily DM Level 3 trend line.

celticworks

Broke thru a daily DM Level 3 trend line. Next level could be as low as 16K.

celticworks

Petty difficult to interpret this chart patten setup.

celticworks

The price action continues to confirm a channel move.

celticworks Updated 

The trend says, up and to the right. The price will bounce around, but as long as the Ukraine situation remains unsolved, I suspect the price just keeps grinding higher. Higher inflation remains tailwind (strong), offset by the headwind of IR hikes by the FED (weak). My view is the FED is behind the curve, and even if they hike, negative real yields continue. ...

celticworks

Try and fail... try and fail... try and fail. Step 1, Step 2, Step 3.

celticworks

Pretty interesting to see BTC and ARKK track each other. I mean, TSLA is over 10% of ARKK, you think ARKK would track TSLA. But, I guess ARKK also has a Microstrategy position.

celticworks

Could be a mini head and shoulders formation. I suspect we can confirm, or not, over the coming hours.

celticworks

I short-term flag, signalling a move higher. The WTI price doesn't seem to be pricing the recent overnight news out of Ukraine, nor are we seeling the EU NatGas price surge.

celticworks

Is BTC forming a near-term bottom, on lower volume? Or a pause before another leg down?

celticworks

Are we seeing the development of a massive double-top formation??? Can we name some recent, or foresee some future, constructive fundamentals that would suggest that BTC could bounce of a floor of support.

celticworks

Is BTC a store of value... it doesn't look like it is storing value. Is it a medium of exchange... it doesn't look like it. Is it an inflation hedge... it doesn't look like it. Is it a safe haven asset... WTI and the developing crisis in Ukraine.... it don't look like it.

celticworks

The idea is simple. If people bought BTC because they thought it was going up, then the reverse holds. f(gravity) = BTC bag holders