Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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I am not an expert in technicals but usually 0.5 and 0.618 fib levels indicate strong reversal after correction (which is natural in the markets).
edit: this is btc/usdt weekly chart
At this stage it is not very relevant and there is obviously some kind of a lemming-like panic.
Who knows what caused it...maybe certain "meme" coin, perhaps.
That said, I see the same strange behavior in some stocks, especially small caps.
Some report OK or even good earnings and good prospects...and are being told to "die", essentially with 30-40% decreases.
The relative "calm" of the indexes is deceiving, imho.
BTW...I read some vibes about the singularity in 12 mo..who knows..maybe markets are trying to "price it in", lol.
https://www.popularmechanics.com/science/a63922719/singularity-12-months/
I read something today which for the life of me I can’t find but if I do will edit it in.
The general theme was trump is crashing the market, he is making all his moves and feints pretty public and driving the fear factor. He is shaking retail out plus weaker hands. In a while M2 supply will be created(printer go brrr) and the rich/smart money will come in and scoop things up at ultra low pricing. We will find what was a feint and what was move way after the fact but the “fear” damage has already been done.
This was in the context of this strange behaviour in stock rather than Btc but definitely extensible somewhat I think. It’s a smart move, and if it turns out to be correct you just know he will claim credit for it going back up(cause the problem, celebrate fixing it)
Dang I wish I could find it they explained it way better than I tried. IMHO Saylor knows this, and it was what Elon was referring to when he said it’s gotta get worse to get better.