My take on the economics for BTC BOTTOM for OCT and November 2022
1.Btc is in uncertain times.
One of the reasons why BTC can go lower is bc on the weekly its formed a 9-13-9 buy signal.
This will likely send btc lower as in the past
investors we need to be on the watchout for a Liquidation Bottom – A final Flushout 3.Last Thurs. we sold off with the CPI data with BTC and the Stockmarket – we saw a reversal of conditions for both
4.Keep an eye out for a bigger sell off later in the month leading to the FOMC meeting (FED) on or probably before the 2nd Nov. 5.FED will likely increase rates by 0.75% but announce that they will be slowing down – maybe 2 more hikes after the nov. increase
6.The point is, the FED has to stop or they risk collapsing the Bond Market 7.We have the 10 Year Treasury rate yield on a 11 week winning run – now in week 12 – this Is suggesting the a BTC bottom is very NEAR 8.BTC can bottom with the SM if the correlation continues
9.Put simply, if BTC is rejected off the 200WMA we risk taking out the JUNE LOW – this is probable and will form a consolidation BOTTOM 10. BTC needs to hold 13.8k and if it does – we will have a BOTTOM if it doesn’t we risk seeing something more spectacular to the 9-10k
11.A Consolidation bottom is where people are leveraged or forced to sell with their stops
will be 1 year from the OCT highs last year and now we are 70+% lower
is my belief that we are still in a Extended Prolonged correction and we are to expect a new high for BTC for WAVE 5 – this is all reliant ion 13.8k holding! NOT A BEAR MARKET like so many others say
14.The good news is that a BTC bottom is forming where we have capitulation where stops are triggered by the huge number of BEARISH Investors and the markets react aggressively to the UPSIDE
15.THEN A MAJOR BEAR MARKET WITH THE RECESSION IN LATE 2023 16.LET’S NOT MISS THE BTC BOTTOM 17.GOOD LUCK! 18.this twitter thread.