#BTC☀ $BTC Just a few days before the U.S. midterm elections, the outlook is becoming very uncertain for the market, for Republicans, and especially for Trump, whose approval rating is below 40%.
Given this situation—that is, political uncertainty, an energy crisis, and turmoil in traditional markets—BTC is sending a signal that seems to anticipate what’s coming. Here’s my take.
1) BTC is consolidating in a descending wedge chart pattern, which breaks upward the vast majority of the time. By definition, this is a continuation pattern...
2) Just days before an event as significant as the midterm elections, and amid the uncertainty they bring to the market, BTC has spent 11 days above its 50-day moving average, with a very strong absorption zone between 80k and 79k. The price has remained slightly above its average price over the last 50 days.
My conclusion is that the signal I’m getting is that whale investors don’t see the situation the way we do. In other words, if they’re defending the 50-day zone, they’re pricing in the idea that the upcoming political event, regardless of the final outcome, will EASE TENSIONS in the market, remove uncertainty, and allow the move to continue. Put another way, they’re defending the price for a structural reason that’s bigger than this temporary noise.
NOTE: That doesn’t mean there’s no selling pressure.
Secondly, in just the last ten days, while the price has been above its 50-day moving average, there has been a monstrous volume of more than 160k BTC, or over 13 BILLION dollars.
FOLKS, that’s a huge amount for this point in time, given the uncertainty we’re facing.
I think BTC is pricing in an inevitable MONETARY EXPANSION, and investors are in the midst of a cold war of coin accumulation, taking advantage of sales driven by temporary fear and uncertainty.
Lastly, I’d like to point out that there are more than 70 million crypto voters in the U.S., and I wouldn’t rule out Trump trying to PUMP the market.
Given this situation—that is, political uncertainty, an energy crisis, and turmoil in traditional markets—BTC is sending a signal that seems to anticipate what’s coming. Here’s my take.
1) BTC is consolidating in a descending wedge chart pattern, which breaks upward the vast majority of the time. By definition, this is a continuation pattern...
2) Just days before an event as significant as the midterm elections, and amid the uncertainty they bring to the market, BTC has spent 11 days above its 50-day moving average, with a very strong absorption zone between 80k and 79k. The price has remained slightly above its average price over the last 50 days.
My conclusion is that the signal I’m getting is that whale investors don’t see the situation the way we do. In other words, if they’re defending the 50-day zone, they’re pricing in the idea that the upcoming political event, regardless of the final outcome, will EASE TENSIONS in the market, remove uncertainty, and allow the move to continue. Put another way, they’re defending the price for a structural reason that’s bigger than this temporary noise.
NOTE: That doesn’t mean there’s no selling pressure.
Secondly, in just the last ten days, while the price has been above its 50-day moving average, there has been a monstrous volume of more than 160k BTC, or over 13 BILLION dollars.
FOLKS, that’s a huge amount for this point in time, given the uncertainty we’re facing.
I think BTC is pricing in an inevitable MONETARY EXPANSION, and investors are in the midst of a cold war of coin accumulation, taking advantage of sales driven by temporary fear and uncertainty.
Lastly, I’d like to point out that there are more than 70 million crypto voters in the U.S., and I wouldn’t rule out Trump trying to PUMP the market.