Starting from 25 January 2021, it seems like Bitcoin is making a huge head and shoulders pattern.
It will test 40k at first (at least what I think) then will finish the right shoulder. And in terms of narrative it aligns too. We will follow the stock market until the election, there will be a crash just before or after election in stock market where we will see the 40k and while finally we feel the recession; BTC's value in terms of being deflationary will be noticed. Especially while we have the ETF and easy access for less tech-savy people.
But that is just an idea, a thinking out loud. Not a financial advice and do not trade on this.
It will test 40k at first (at least what I think) then will finish the right shoulder. And in terms of narrative it aligns too. We will follow the stock market until the election, there will be a crash just before or after election in stock market where we will see the 40k and while finally we feel the recession; BTC's value in terms of being deflationary will be noticed. Especially while we have the ETF and easy access for less tech-savy people.
But that is just an idea, a thinking out loud. Not a financial advice and do not trade on this.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.