BTCUSD critical level
Bitcoin is trading currently right above the .5 fib level in the channel going back to 2013. To confirm this bull market we need to see the monthly close hold this level. It can still be okay at the .382 level, but runs into risk of falling out of the arc.
If we do get a monthly close above this .5 level, it’s on like donkey Kong! Assuming bull market remains in place, 84k will be a key area to watch. S&p/broad markets at sell off around thanksgiving but ignore the noise and watch for monthly confirmation.
Bitcoin has had a strong correlation to the expansion of feds balance sheet over the years. We’ve stalled out on the fed side, but money continues to flow into the space. Stock to flow shows we still have room to go. I’ll be buying on dips. Value of assets will hold much better over time than fiat currencies- regardless of interim bear markets.
Been a miner/trader in the space for over 5 years, & my bias may remain bullish long term. Do your own research- Not financial advice
If we do get a monthly close above this .5 level, it’s on like donkey Kong! Assuming bull market remains in place, 84k will be a key area to watch. S&p/broad markets at sell off around thanksgiving but ignore the noise and watch for monthly confirmation.
Bitcoin has had a strong correlation to the expansion of feds balance sheet over the years. We’ve stalled out on the fed side, but money continues to flow into the space. Stock to flow shows we still have room to go. I’ll be buying on dips. Value of assets will hold much better over time than fiat currencies- regardless of interim bear markets.
Been a miner/trader in the space for over 5 years, & my bias may remain bullish long term. Do your own research- Not financial advice
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