BITCOIN- Similarities with October Breakout
Similarities with October breakout:
This is our chart with a comparison of then and now. e have just posted a nice 10-min video with all details. You can watch it here:
As you can see the price right now, as we speak, is in a similar behavior with back then.
What is MOST IMPORTANT to understand though is the Fundamentals:
- Back in October we had less talk about rate hikes and the 'Good news' of the first ETFs in the USA.
So let's look at Potential 'Good news/factors' as they unfold:
- Omicron is weak, truck drivers in Canada ain't getting vaccinated, Covid is not so scary and MAYBE, just MAYBE we could be approaching the END of the Pandemic! Will this be good news? You BET!!!
- War with Russia is never going to happen. Things will ease and Bloomberg's fake news will haunt them for ever. My opinion...
- Rate hikes are already priced in already. (even 4 rate hikes this year and a 2,5% will not be appealing enough to the big money. This planet has gotten used to bigger %s..let's keep going!)
- Mass adoption. It's happening. It's all the way UP guys!
PS. WATCH THE VIDEO CAREFULLY: We are not sure the October scenario will be repeated but it is highly likely that it will. In any case, in the video we explain our trading set-ups with you and remember to DYOR and have your own opinion! (tradingview.com/chart/BTCUSDT/eOFC6XXP-BITCOIN-You-Probably-Want-to-Watch-this-One/)
One Love,
the FXPROFESSOR
This is our chart with a comparison of then and now. e have just posted a nice 10-min video with all details. You can watch it here:
As you can see the price right now, as we speak, is in a similar behavior with back then.
What is MOST IMPORTANT to understand though is the Fundamentals:
- Back in October we had less talk about rate hikes and the 'Good news' of the first ETFs in the USA.
So let's look at Potential 'Good news/factors' as they unfold:
- Omicron is weak, truck drivers in Canada ain't getting vaccinated, Covid is not so scary and MAYBE, just MAYBE we could be approaching the END of the Pandemic! Will this be good news? You BET!!!
- War with Russia is never going to happen. Things will ease and Bloomberg's fake news will haunt them for ever. My opinion...
- Rate hikes are already priced in already. (even 4 rate hikes this year and a 2,5% will not be appealing enough to the big money. This planet has gotten used to bigger %s..let's keep going!)
- Mass adoption. It's happening. It's all the way UP guys!
PS. WATCH THE VIDEO CAREFULLY: We are not sure the October scenario will be repeated but it is highly likely that it will. In any case, in the video we explain our trading set-ups with you and remember to DYOR and have your own opinion! (tradingview.com/chart/BTCUSDT/eOFC6XXP-BITCOIN-You-Probably-Want-to-Watch-this-One/)
One Love,
the FXPROFESSOR
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