Avatar
HoylesPattern 5mo ago 💬 1

Bitcoin update - as I see it

#bitcoin #moneysupply

Just short note today … keep your powder dry if you are looking to enter the BTC market or stack more.

A quick analysis of the recent two bumps in BTC indicates that the first was probably triggered by the Relative Strength Index (RSI) dropping to around 40% (BTC pricing also being at sub USD 100k).

The second times well with the End of Financial Year for many countries (30 June), where investor exit losing positions to realise tax losses. At that point the Global Net Liquidity jumped some USD 300 trillion within 48hrs. Starting on 1 July that money had to find a new home - Bitcoin was one place plus other more traditional investments. The Global Net Liquidity has now gone (plus some).

What’s the bottom line … IMHO I expect the BTC price to slowly pull back. Expecting a revisit to USD 115k and (maybe hoping) for closer to USD 110k.

Reply to this note

Please Login to reply.

Discussion

Avatar
FreeYoda 5mo ago

Haha good luck timing short term movements.

You are not wrong.

But #Bitcoin is in its value discovery phase.

Or better humanity is discovering #Bitcoin.

It is the best SOV.

It only needs people to realize this.

Most won't have any impact whatsoever.

But some like Michael, or others with insane amount of fiat are the ones that will have impact.

We live in the digital information age.

Knowledge goes with the speed of light.

A few of thise that will have impact will cause tremors.

To be picked up by others that have impact.

Just to create that one tsunami..