Looking at the Bitcoin (BTC) monthly chart, we are going to dare to dream.
On a practical level, we see Bitcoin's drop in October held a horizontal support zone. Hat tip to a loyal crypto friend on that read.
We expanded the bullish breaker analysis and put some Elliot Wave analysis on top of it. In Elliot speak, the most significant part of an uptrend call "3 of 3" is in the works. Third waves are the most impulsive waves. These waves can be so big; they can have five-wave structures unto themselves. That sets up a scenario where the third wave that gives bulls massive gratification has a component to it that provides bulls with even more satisfaction. Gratification = rallies with very little downdrafts.
Bottom Line: We can dare to dream. China supporting crypto and blockchain and U.S. politicians overtly redistributing wealth, AND printing money are the fundamental backbone of the Elliot scenario.
On a practical level, we see Bitcoin's drop in October held a horizontal support zone. Hat tip to a loyal crypto friend on that read.
We expanded the bullish breaker analysis and put some Elliot Wave analysis on top of it. In Elliot speak, the most significant part of an uptrend call "3 of 3" is in the works. Third waves are the most impulsive waves. These waves can be so big; they can have five-wave structures unto themselves. That sets up a scenario where the third wave that gives bulls massive gratification has a component to it that provides bulls with even more satisfaction. Gratification = rallies with very little downdrafts.
Bottom Line: We can dare to dream. China supporting crypto and blockchain and U.S. politicians overtly redistributing wealth, AND printing money are the fundamental backbone of the Elliot scenario.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.