Dr. Jeff on Nostr: UPDATE: The most interesting #bitcoin magical line chart. š Talking points: ā ...
UPDATE: The most interesting #bitcoin magical line chart. š
Talking points:
ā The initial red wedge--which suggested a coming break-out and explosion in volatility--was transgressed to the downside on February 24.
ā The thin green (lower) line suggested that the series of higher lows would continue--and generally held true on down days, including February 28, March 10, March 11, March 12, and March 13. This is a type of BULLISH consolidation.
ā Added descending thick red line and thick green lines to reveal POSITIVE DIVERGENCE in price/RSI AND price/global M2 terms. THIS IS BULLISH, and suggests that the next MAJOR move will be to the upside.
OPINION:
I remain generally BEARISH on the US economy and related (small-/mid-cap) equities in the near-term, while remaining generally BULLISH on global assets for the foreseeable future... especially bitcoin.
Magical lines and chart TA are for infotainment purposes only.
Just my thoughts. You do you.
Talking points:
ā The initial red wedge--which suggested a coming break-out and explosion in volatility--was transgressed to the downside on February 24.
ā The thin green (lower) line suggested that the series of higher lows would continue--and generally held true on down days, including February 28, March 10, March 11, March 12, and March 13. This is a type of BULLISH consolidation.
ā Added descending thick red line and thick green lines to reveal POSITIVE DIVERGENCE in price/RSI AND price/global M2 terms. THIS IS BULLISH, and suggests that the next MAJOR move will be to the upside.
OPINION:
I remain generally BEARISH on the US economy and related (small-/mid-cap) equities in the near-term, while remaining generally BULLISH on global assets for the foreseeable future... especially bitcoin.
Magical lines and chart TA are for infotainment purposes only.
Just my thoughts. You do you.