BTC-USDT (Bottom at 30k?) and fundamentals --please read--
Updated
Hello traders and investors!
Here in this idea I would like to go over my personal view on Things to Consider 😄👋😁 lets take a look!! 🌍
Technically:
We have managed to break a trend line to the upside which we failed to do 2 times before since MAY 19th!
I am looking to gain support at approximately 💲38,568 💪😁
On the 8th of June DAILY chart BTC we have a hammer candle, which indicates Bullish price action 👌🐶🔨
4 hour chart view, as drawn out above, we have a possible inverse head and shoulders (Head or lowest point being ~30k) 👏👀🐮🆗
Possible bull targets are listed above on chart ⏫📈🐮
We also have a nice bear target in the event that we failed to break the 50 fib retracement possible resistance line (BLUE🔵 DASHED LINE📈) on our second attempt soon⏰⏳📌.
Grayscale:
Many institutional investors had buy pressure at 30k, so far that is proving to keep us in an uptrend
Grayscale (owns approx 655,000 BTC) likely bought at 30k and now we can return to bull trend until approximately July 19th.
On July 19th we will possibly see a large dump, so I have my second bull target ending on that date..
Elon Musk:
Revoked his statement about BTC and is planning on accepting BTC as payment for TESLA cars in the future. Source-ELON MUSK twitter
"When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions."
El Salvador:
Soon, citizens can use BTC to make payments for everyday goods etc., with no capital gains tax.
This could be very good, they have already engineered the process and put to use mining BTC with volcanoes⛏🌋, but are seemingly rushing😬😨 (90 day timeframe to finish the infrastructure!)
The process of making this HUGE transition that the world has never seen a country attempt is maybe not so simple so let's not focus extremely on this fundamental news until we see further development.👍
Wyckoff Distribution:
We seemed to have possibly finished redistribution and accumulation, which makes room for some upside.
Let's see , and always remember ⏬⏬🛑This is not financial advice🛑 Please use a stop loss, and keep up to date with the current news if possible! This is my personal view based on fundamental overview, and technical-analysis. I always recommend considering multiple views/charts before making investments!
Thank you so much!!!!!!! 🛸
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome and trade safely!!!!
Jazerbay ☯
Here in this idea I would like to go over my personal view on Things to Consider 😄👋😁 lets take a look!! 🌍
Technically:
We have managed to break a trend line to the upside which we failed to do 2 times before since MAY 19th!
I am looking to gain support at approximately 💲38,568 💪😁
On the 8th of June DAILY chart BTC we have a hammer candle, which indicates Bullish price action 👌🐶🔨
4 hour chart view, as drawn out above, we have a possible inverse head and shoulders (Head or lowest point being ~30k) 👏👀🐮🆗
Possible bull targets are listed above on chart ⏫📈🐮
We also have a nice bear target in the event that we failed to break the 50 fib retracement possible resistance line (BLUE🔵 DASHED LINE📈) on our second attempt soon⏰⏳📌.
Grayscale:
Many institutional investors had buy pressure at 30k, so far that is proving to keep us in an uptrend
Grayscale (owns approx 655,000 BTC) likely bought at 30k and now we can return to bull trend until approximately July 19th.
On July 19th we will possibly see a large dump, so I have my second bull target ending on that date..
Elon Musk:
Revoked his statement about BTC and is planning on accepting BTC as payment for TESLA cars in the future. Source-ELON MUSK twitter
"When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions."
El Salvador:
Soon, citizens can use BTC to make payments for everyday goods etc., with no capital gains tax.
This could be very good, they have already engineered the process and put to use mining BTC with volcanoes⛏🌋, but are seemingly rushing😬😨 (90 day timeframe to finish the infrastructure!)
The process of making this HUGE transition that the world has never seen a country attempt is maybe not so simple so let's not focus extremely on this fundamental news until we see further development.👍
Wyckoff Distribution:
We seemed to have possibly finished redistribution and accumulation, which makes room for some upside.
Let's see , and always remember ⏬⏬🛑This is not financial advice🛑 Please use a stop loss, and keep up to date with the current news if possible! This is my personal view based on fundamental overview, and technical-analysis. I always recommend considering multiple views/charts before making investments!
Thank you so much!!!!!!! 🛸
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome and trade safely!!!!
Jazerbay ☯
Note
Still bullish on BTC, looking to break up and out of this descending-channel. Thank you so much and trade safe all!
Jazerbay ☯
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