As you can see from the chart, Beginning last week, there was a leverage flush on CRYPTOCAP:BTC - Following another flush leading into the CPI data - CPI data was positive, which led to a pump - FOMC meeting and Jerome Powell speech 6 hours later leads to a correction again. Trading this is a massive opportunity, not understanding what's going on is a massive risk.
This is to highlight the impact of the tweet by Elon Musk on May 12th detailing that Tesla would no longer be accepting BTC as a form of payment for vehicles. x.com By May 17, Elon aslo confirms that Tesla has not sold any BTC x.com Despite massive crash, that led to a near 50% dip in a week. If Elon Musk comes back strong into crypto, expect serious volatility.
Marathon Digital has recently got into the BTC Mining Game in 2020 - 2021. As you can see, the stock had a massive impact post halving surging over 200X.
Riot, a BTC mining company see's significant price surge post BTC halving
It's clear that BTC halving has a strong positive effect on BTC mining stocks
Confirmation that Mining stocks surge after halvings
After reviewing the Bitcoin halving events on Marathon digital's chart, it's clear that the Bitcoin halving does not have a strong impact on the price of the stock. My initial thesis which was that, profitability cuts caused by the halving would lead to negative price impacts on the chart is disproven by the 2020 bull run. Right now, it seems the price...
Looking at an inverse chart flips the price axis, so up becomes down and vice versa. This can theoretically help some traders detach from their inherent bullish or bearish bias and focus purely on price movements. For example, a trader who is naturally more bullish might find it easier to identify potential shorting opportunities by looking for bullish signals...
Highlighted the 4 year Bitcoin Cycle. Important note: Bitcoin Launched January 2019. Data starts at June 2010. So the first cycle is also subject to the pattern. What you can see is that the Bitcoin Bull-Run lasts 3 Years and the Bear Market Lasts 1 Year.
As you can see from the chart, when USDT.D spikes, Bitcoin finds a bottom, important to note that spikes can last different lengths and not necessarily a perfect indicator, but a spike and reversal could indicate a bottom for BTC
Bitcoin Dominance spikes in either direction correlate to volatility within the Bitcoin market.
This chart highlights BTC and the RSI and their relationship with finding peaks and troughs. As you can see, they are not always 100% accurate, or at least not right away.
If we plot Dogecoin and map out peaks of pumps while overlaying BTC, we can see that most of the time, when DOGE runs, BTC has a dip shortly after. This is to provide evidence of the thesis that when memecoins pump, it is a sign of froth in the market.
Just looking at all the news over the course of the bull market and plotting it, seems like although there's tons of news, nothing is really behind this dump.
Highlighting the fact that although BTC has dipped, the fear and greed has not retraced. This suggests market sentiment is still elevated and we can expect further downside. In all cases leading up to this dump, we saw a correction in the fear and greed index of 20+, currently we sit at a correction of only 16 pts in market sentiment. My thesis: DOWNSIDE RISK...