BITCOIN CONFERENCE 2024
Aktualisiert
In the chart I've highlighted some key areas of interest going into the BITCOIN CONFERENCE in Nashville. With Trump scheduled to speak and his recent track record of being bullish on BTC and crypto in general, my natural instinct is this will be a bullish event for the space.
Trump recently started taking campaign donations in BTC and selected JD Vance as his VP should he be elected. Vance is known to have over $100,000 in BTC so they are both pro crypto and should this be expressed at the conference it is bullish for the space.
Is this a sell the news event? With BTC's recent rally from the lows of ~$63,500 to now ~$68,000 you could argue that the conference is priced in as the 7% gain since midweek would suggest. I do predict volatility that may look like a sell the news event initially but ultimately I cannot see that being the case. For me, if we lose the "MINI RANGE MIDPOINT" with a clean break below then I would start to rethink that stance.
Personally I think we whipsaw between " MINI RANGE MIDPOINT" & "'21 ATH". Historically since the start of the year the '21 ATH is the most important level as all major moves both bullish and bearish are triggered from that level.
Trump recently started taking campaign donations in BTC and selected JD Vance as his VP should he be elected. Vance is known to have over $100,000 in BTC so they are both pro crypto and should this be expressed at the conference it is bullish for the space.
Is this a sell the news event? With BTC's recent rally from the lows of ~$63,500 to now ~$68,000 you could argue that the conference is priced in as the 7% gain since midweek would suggest. I do predict volatility that may look like a sell the news event initially but ultimately I cannot see that being the case. For me, if we lose the "MINI RANGE MIDPOINT" with a clean break below then I would start to rethink that stance.
Personally I think we whipsaw between " MINI RANGE MIDPOINT" & "'21 ATH". Historically since the start of the year the '21 ATH is the most important level as all major moves both bullish and bearish are triggered from that level.
Kommentar
Error on the ‘21 ATH, $69,000 is the correct numberSome early movement with a wick beyond the '21 ATH and then back under. The videos of the turnout for the conference is crazy. This could be a huge next few hours
Kommentar
Volatility confirmed, so far sell the news but we shall see where it finishes up.
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