Let's talk $IREN. It is the most efficient CRYPTOCAP:BTC miner of them all, but the dilution can get tricky at times.
One great way to try and get a handle on the offerings and potential dilution is to compare IREN's performance with that of the bitcoin miner ETF, $WGMI. If we see relative weakness in IREN in comparison to WGMI, we can conclude that it is most...
It is important to not disregard historical Fibonacci levels. For example, bitcoin's current all-time highs is within 0.1% of the 1.618 retracement of the Covid lows to the previous all-time highs at 69,000.
The correlation between the US 10-Year Yield curve and USDJPY has been especially strong over the past 3 years. If the Yen carry trade unwinds, we could potentially see the 10-year hitting 3% this year.
Assuming Bitcoin is still in a bull market, we can try to identify areas of potential reversal.
We are current bouncing off the weekly EMA, so we may already be reversing.
Yearly pivot point is at 80081.
Former all-time high is at 73835.
If we continue dropping, we would hit the ascending trendline around 66666 (devil's pivot point).
Yearly S1 pivot point...
The US 10-Year yield trades very well on the 3-month timeframe. Extrapolating it further, I expect it to hit 3.0-3.5% sometime within the next 12-18 months.
