Bitcoin BTC Update
BTC potentially could be resting at a support area before consensus is made about the Omicron Variant next week or in the coming weeks. Depending on the shift in narrative and how impactful potential lockdowns may be to the economy, that will be the most influence on price action. If all is manageable and no catastrophe happens, BTC should be ready for more upside. Too much fear and too many crash projections are in the air, I personally believe the ship will keep sailing much longer than people will realize.
Enough with fundamentals, just check out the chart and see for yourself. The chances of freefall from here are manageable just due to the sheer level of support in this area. As long as they can keep the stock market party going on, so will Bitcoin.
Here are two other charts showing confluence from different perspectives.
On top of this, there is zero long-term bearish case until 50k is lost. Until then, whoever is screaming long-term downside is completely lost. Here is what BTC doesn't want to see;
Thank you for checking out the analysis, for those who have followed my charts, I sincerely apologize for my absence. The last few months have been interesting. More updates on broader markets should follow more consistently.
Enough with fundamentals, just check out the chart and see for yourself. The chances of freefall from here are manageable just due to the sheer level of support in this area. As long as they can keep the stock market party going on, so will Bitcoin.
Here are two other charts showing confluence from different perspectives.
On top of this, there is zero long-term bearish case until 50k is lost. Until then, whoever is screaming long-term downside is completely lost. Here is what BTC doesn't want to see;
Thank you for checking out the analysis, for those who have followed my charts, I sincerely apologize for my absence. The last few months have been interesting. More updates on broader markets should follow more consistently.
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