It needs to overcome the following factors:
1. Break through the demand zone above its current price.
2. It needs to overcome $19,000,000 of daily selling.
3. It needs to overcome $4,000,000,000 worth of daily monetary tightening.
For it to overcome 2 and 3 it needs to be sufficiently over sold for new money to be able to lift its price.
Until it gets through...
The chart shows a clear relationship between NVidia's share price and the performance of Ethereum.
Once Ethereum shifts to Proof of Stake in Q3 of 2022, the demand for GPUs will plummet in addition to 18 months of stocks of GPUs suddenly saturating the market and overwhelming the gaming market demand for 3 months to a year.
Hey bud,
My previous experience with the bull market was that the leading 2 coins (ETH and BTC) bounce upwards on the 200 day moving average.
Currently the price is above the 200 day Bollinger. This is too hot to do a long in my view. You want to go long when the price is at least under the 200 day Bollinger and preferably when it is directly on the 200 day...
200 Day moving average + Bollinger Bands
100 Day moving average
Parabolas, should they occur
Fibonacci price levels
Current BTC is between 2 Fib levels, having recently broken out. I suspect a pullback to 9300, followed by an advance.
