As I had posted before on the weekly time frame, this move in Bitcoin is finished for the medium term. The Elon move wasn't even enough to sustain a major breakout and we are even now below our wedge support. The 95% whales have clearly drawn their line that this is the TOP of this run.
Please review my post on Bitcoin's weekly time frame and this might all make...
There are some things to take into account when looking at the US Dollar: technicals, fundamentals, and historical trends.
Technicals:
- The MACD has formed a double bottom on on the weekly time frame which is indicative of an Elliott Wave ABC corrective pattern unfolding and the start of a new uptrend
- DXY stochastic has coiled into a bull wedge on the verge...
I want to start this out by making it clear I like Bitcoin in the long run. However, the euphoria in the market is at an all time high with nearly no fundamental justification. Price targets of $100k, $200k, or $1M within the course of a year or two are laughably wrong. Expecting a new commodity to surge past the market cap of a company like Apple is absolute...
