Tech index reached 61.8 fib level. Will it roll over just like GFC and dotcom bubble??
DXY showing green Heiken Ashi candles after bouncing from long term support that goes back to 1970s. Bearish head and shoulders is invalidated here. Very bearish for broader markets or indexes.
BLue and green lines are the siblings of the ORANGE LINE ALl three lines march forward at the rate 89% CAGR for over a decade now.
The ORANGE LINE has been the foundation of bitcoin since 2013 But there are two parallel siblings of the ORANGE LINE
The ORANGE LINE acts as a support or resistance for Bitcoin monthly close for over a decade (2011-2023) Now we have broken above the resistance now.
Bitcoin long term trend line 2010-2023 When we draw a long term trend line from 2010 to today, the price touches at multiple places. The returns are 89% CAGR when you take only the trend line.
Bitcoin tops and bottoms are always within the fib channel. So extrapolating to 2025, the top comes out to be around ~1M
Added fib channel on the BTCUSD/M2SL chart, all bottoms align 100 - top (2017 top overshot 100) 0 - bottom Approximated top around Aug 2025 ~775k at 1 Approximated bottom around Dec 2026 ~130k at 0
The bottom of BTC/M2SL has always followed a straight line.
When Bitcoin all time index is adjusted for growth in M2 money supply, the support forms an upward sloping trend line off which bitcoin has always bounced off.