BTCUSD Classic Break out.
A classic breakout setup in a bull market. A break here will likely result to a 24% rise to roughly $63,000
Conversely if its a fuckery move (false breakout) we could see BTC drop to as low as $25,000.
What could cause a BTC to drop 50%? Interest rates continue rising rapidly cause compression between
Bond yield and Earnings yield. Currently 1.56% & 2.56% respectively.
This can cause a risk off sentiment sell everything event taking BTC down with it.
Lastly, with commodities rising rapidly since April when the #MMT ENDLESS TRILLIONS TO ALL for all began. (I posted it here then)
The move in commodities Crypto made a lot of sense since interest rates were at or near zero across the entire spectrum. Rendering
bonds, stocks to essentially behave like commodities/Cryptos that have no earnings. Not to mention the devaluation of the DXY (dollar).
With another $1.9 trillion "Relief package" in deficits we will end the year with deficits to GDP of 25% ($5 trillion). Provided no
new "Green New Deal" is passed. Then we can easily exceed these numbers.
For now I remain bullish in BTC for reasons I maintain for subscribers and not mentioned anywhere today. As a hint I believe
BTC will eventually become Global Parallel Dual currency system but we are not there yet. Patreon.com/RealMacro to learn more.
Bitcoin haters on suicide watch again. ;)
Conversely if its a fuckery move (false breakout) we could see BTC drop to as low as $25,000.
What could cause a BTC to drop 50%? Interest rates continue rising rapidly cause compression between
Bond yield and Earnings yield. Currently 1.56% & 2.56% respectively.
This can cause a risk off sentiment sell everything event taking BTC down with it.
Lastly, with commodities rising rapidly since April when the #MMT ENDLESS TRILLIONS TO ALL for all began. (I posted it here then)
The move in commodities Crypto made a lot of sense since interest rates were at or near zero across the entire spectrum. Rendering
bonds, stocks to essentially behave like commodities/Cryptos that have no earnings. Not to mention the devaluation of the DXY (dollar).
With another $1.9 trillion "Relief package" in deficits we will end the year with deficits to GDP of 25% ($5 trillion). Provided no
new "Green New Deal" is passed. Then we can easily exceed these numbers.
For now I remain bullish in BTC for reasons I maintain for subscribers and not mentioned anywhere today. As a hint I believe
BTC will eventually become Global Parallel Dual currency system but we are not there yet. Patreon.com/RealMacro to learn more.
Bitcoin haters on suicide watch again. ;)
Note
Nice breakout looking goodNote
Target $80,000 Looking good!
Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.