This is a daily version of the comparison between BTCUSD (orange) and BTCUSD/M2SL (blue), when the two prices match, it's time for the FED to retire liquidity, which collapses the Bitcoin Market. Watch!! Right now is undervalued See the related chart!
RIGHT NOW BITCOIN IS INFRAVALUED. I believe the price of Bitcoin (in orange) is undervalued as the distance to the Bitcoin divided by the M2 Money Stock grows (in blue), and when the market makes both prices match as the FED starts retiring liquidity of the system. If I am correct, then when both prices matches on top of this cycle, we will enter into the bear...
The channel is curved because it is adjusted to 2% inflation.