〽️ BTC Analysis Explained
I guess, this is a big question nowadays. Let's dive deep in some cases.
From my overall market observation, BTC has decoupled from Equities and other economic market.
So to say:
DXY or Dollar going up.
S&P continuously going down
Gold Going down.
BTC? stayed in range or sideways.
*BTC follows the trend of S&P and Gold while, BTC and DXY are most often inversely proportional.
-Dollar is going up, and Bitcoin is going down.
***Next Scene to look at.
Fractals and percentage from the previous bear market cycle, after the boring descending wedge pattern in 2018. Bitcoin price continue its price in a huge market sell off. Currently, it is still not invalidated as bitcoin price manage to stay below the previous high in September 15, around 25,000$.
***Last Scene
These comes from significant events happened in 2018 bear market, while Bitcoin is in the apex of the descending triangle. The US midterm election takes place on November 6, 2018 and after 2 days, the price went in huge Sell-off and recovered after the post election.
Up-to-date
The US midterm election date: November 8, 2022.
We'll see what is about to happen afterwards.
—- Please leave a comment if you have any ideas—- Thank you!