Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Regarding the recession which analysts predicted is already upon us, but still bitcoin is showing consistency.
I think during recession people will be attracted to Bitcoin more compared to traditional S&P 500.
Bitcoin will prove itself a recession proof investment/asset
I think during recession people will be attracted to Bitcoin more compared to traditional S&P 500.
Bitcoin will prove itself a recession proof investment/asset
Bitcoin is already a hedge against recession, inflation, government oppression, you name it.
Just take a look at the BTC/RUB pair for 2022. It formed a third top/ATH for Russian Bitcoin holders, whilst at the same time Russian stocks plummeted.
Just got a [newsletter] email from Tradingview:
Quote
BITCOIN - Forming Reversal Pattern - Ending Diagonal
Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this reversal pattern will be the break of the diagonal. Further confirmation will be a break above the completion of the 4th wave. - WickatorFX
[emphasis mine]Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this reversal pattern will be the break of the diagonal. Further confirmation will be a break above the completion of the 4th wave. - WickatorFX
Holly Molly.