This is BTC over the last 9 years. Ever since we broke above the thin red line in 2013, we have never decidedly broken below it, until... a global event in March of 2020. But since then, its recovery has been nothing short of spectacular, fighting for months (May to August) to break back above the red line again, and it finally did this month. I'm waiting for it to close the month above and this will be a very strong signal. As such, in the near-term, I can see us retest that red line, but I feel that it will take something major to bring us back under it. And right now that line sits at 15700-ish and is rising fast (crosses the ATH in early March 2021), so I have a hard time believing the bearish cases calling for 14k.
As we all know, Fundamentals decide the direction of the trend and Technicals decide how it goes there. And fundamentals are really strong: Microstrategy lead the way, Paypal followed, and now Guggenheim. More will fall in following that. Be aware though : having bags also allows them to sell big, so when they do...
As we all know, Fundamentals decide the direction of the trend and Technicals decide how it goes there. And fundamentals are really strong: Microstrategy lead the way, Paypal followed, and now Guggenheim. More will fall in following that. Be aware though : having bags also allows them to sell big, so when they do...
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Close-up view of the daily.
