Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I don't think things are very calm at all. We're seeing a battle between bulls and bears right now about the direction of the market. Every day I see more reports of someone using leverage to make a billion dollar bet one way or the other. We're also in a position where if we do not break the all time high soon and instead drop below $100K, it could be viewed as a rejection and lower highs, which would be bad.
Since Bitcoin is likely following Global M2 money supply
Falling below $100K is still salvageable as can be seen in the chart.
We would still be on track. (nothing spoil)
People keep posting this chart... which is awesome. Because it is strangly accurate, AND fabulous.
But...
What does global M2 do AFTER the end of that chart? And why are we not seeing that yet? Makes me assume it flattens out (I mean going DOWN is never an option).
If my ASSumption is right then traders will front run the end of this chart (and hopefully short so they can be punished).
Also... despite the US credit rating going down I expect more printing... HOWEVER the US credit rating going down is a real issue in regards to printing.
I am going to spend some time seeing what that chart looks like after it ends.
For those of you thinking I am crazy.. it is because the whole premise is Global M2 is SEEMING to be a 100ish day leading indicator for Bitcoin price. But these sorts of indicators never last forever because people see them. Sort of the Heisenberg Uncertainty Principle of trading?
Also...
SAY MY NAME.