ridethepig | A Game Changer Break For BTC!
Awful macro prints from Europe this morning, expectations of those betting on a quick V-shaped recovery will be rectified. BTC is entering back into play and offers protection on the risk side, it is evident that a compression range is about to blow, a break of $10,000 will trigger momentum as any remaining shorts are forced into retreat. The flows must be managed more skilfully as we enter into the next chapter in risk markets: buyers must not lose tempo here, making a breakout on the log chart is a game changer for BTC.
For the flows, we are sitting at great value levels for a zig-zag is in play via $14,000 => 10,200 => 21,000
It is obvious now that the FED and other CB's are funding government policies, Keynsian economics is now at odds and we must begin to position for protection on the private side. This positioning in BTC is becoming a hedge against governments, and a "corridor swing" towards the $35,600 highs would mark the end of this impulsive third wave of a five wave sequence.
The chart more or less exhausts all there is to say about the upcoming swing. We can tackle the intricate legs live in the comments if there is enough interest...
Good luck!
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