BTC/USD Descending Wedge with Quantitative Tightening
Updated
BTC/USD 1M Chart:
This is the 4th Descending Wedge Pattern that BTC has been in on the weekly and this 1 month chart. Note that BTC broken downwards on 2 of its Descending Wedge Patterns before continuing upwards.
Things we have to take into consideration
1: We are already in a world wide recession!
2: The FED is about to start Quantitative Tightening which may not be priced into the markets!
3: Quantitative Tightening will possibly take BTC to $12,00 and below!
5. The crypto spot market is controlled by the Binance funding rate!
4. Before the media says the country says its in a recession…… It already is.
5. Be prepared.
If the MACD Line (Blue Line) crosses below the 0.0 Base Line into the Negative Zone of the MACD Indicator then BTC will OFFICIALLY be in mid-longterm distribution on this 1 month timeframe.
Since March 2020, quantitative easing took BTC from about $3,800 to about $68,000, some may say this was even from 2011! So now that we are entering Quantitative Tightening! What happens next?
Interesting times and opportunities ahead.
I hope this is helpful with your trading and Hold-ing.
This is the 4th Descending Wedge Pattern that BTC has been in on the weekly and this 1 month chart. Note that BTC broken downwards on 2 of its Descending Wedge Patterns before continuing upwards.
Things we have to take into consideration
1: We are already in a world wide recession!
2: The FED is about to start Quantitative Tightening which may not be priced into the markets!
3: Quantitative Tightening will possibly take BTC to $12,00 and below!
5. The crypto spot market is controlled by the Binance funding rate!
4. Before the media says the country says its in a recession…… It already is.
5. Be prepared.
If the MACD Line (Blue Line) crosses below the 0.0 Base Line into the Negative Zone of the MACD Indicator then BTC will OFFICIALLY be in mid-longterm distribution on this 1 month timeframe.
Since March 2020, quantitative easing took BTC from about $3,800 to about $68,000, some may say this was even from 2011! So now that we are entering Quantitative Tightening! What happens next?
Interesting times and opportunities ahead.
I hope this is helpful with your trading and Hold-ing.
Note
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