M1supply
BTC / M1+M2 Money Supply - Observation #BTCUSDM1M2 #MoneySupply An observational study on Bitcoins price versus the overall money supply paints an interesting picture.
Are we now the most oversold on a relative basis to the money supply?
Previous Cycles (I'd argue there's been 3 now, on the basis of halving's and time-cycles)
Previous times we retraced to the 38.2% fib extension
This time 61.8%, 2 full levels below
BTC approaching bottom soonBTC when divided by M1 (Money stock) we can clearly see the 200WMA acting as major support Dec 2018, Mar 2020, Jul 2021 (except for once when money supply expanded after covid crash) we're currently 15-20% away from forming a bottom. please share your comments and let me know what you think about this
BTC/M1 Money stock still under ATHHave you freaked out already? BTC got rejected by 2019 small bull run high. Fractal of the 2017 bull market would also be rejected by the trend line we just bounced off of. To get the ATH of BTC/M1 BTCUSD would have to go to around 100k. We could have already bottomed, or soon will. Manage your risk. Take profits when everyone is greedy, to be able to re-fuel in times like that.
"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful" - W.B.
Fear & Greed Index lowest since March 2020
Thanks for the idea to GeorgeN678/nightwing678
Not financial advice.