Bitcoin Sells Off For Demand To Re-Enter:Next Move-Up Likely BIG
https://www.tradingview.com/x/MMh4FrC8/
I noticed on Friday at the NY close when Gold/Silver/Stocks, practically everything sold off as the VIX Index threatened it's climb & got to around 13% on the day.
But as NY wound down around 4pm local time, I saw all the Crypto's starting to hammer into green zones.
The main reason my feeling is that they had been beaten down severely in price & when price get beaten down, demand starts to increase and buyers swarm in. This is also supported on the higher time frame Stochastic's which I follow - call me old-skool but they tell me a lot.
What the Oscillators are telling me about Bitcoin presently is that a further oversold condition needs to occur (only a tad tiny bit more) which is more than likely playing out right now. The demand which enters Bitcoin on this leg down when price gets too hard to turn up, will be a massive turn up in price for Bitcoin.
Because of the laws of supply & demand and given that Bitcoin and Crypto are brutally oversold causing buyers to flood in commencing right now, it will be Bitcoin and Crypto that breakout in price way ahead of Silver and Gold in reference to the likelihood of an interest rate cut in just over 10 days time.
I noticed on Friday at the NY close when Gold/Silver/Stocks, practically everything sold off as the VIX Index threatened it's climb & got to around 13% on the day.
But as NY wound down around 4pm local time, I saw all the Crypto's starting to hammer into green zones.
The main reason my feeling is that they had been beaten down severely in price & when price get beaten down, demand starts to increase and buyers swarm in. This is also supported on the higher time frame Stochastic's which I follow - call me old-skool but they tell me a lot.
What the Oscillators are telling me about Bitcoin presently is that a further oversold condition needs to occur (only a tad tiny bit more) which is more than likely playing out right now. The demand which enters Bitcoin on this leg down when price gets too hard to turn up, will be a massive turn up in price for Bitcoin.
Because of the laws of supply & demand and given that Bitcoin and Crypto are brutally oversold causing buyers to flood in commencing right now, it will be Bitcoin and Crypto that breakout in price way ahead of Silver and Gold in reference to the likelihood of an interest rate cut in just over 10 days time.
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