In the short term we will go a bit lower, as the the 50 day moving average continues to move away from the 200. No golden cross is forming (yet).
2/ THE 1HR CHART = π»
The 1HR looks pretty bearish too having failed to create a golden cross
3/ MAYER MULTIPLE =π
Mayer Multiple indicates we are now in a buying opportunity. Last time we had this for a sustained period of time, we where in the 30s. IMO this is bullish because the floor is way higher than the summer & i don't think the cycle is over (see next point)
4/ EXTENDED CYCLE = π
I am huge fan of @intocryptoverse who has been calling for an extended cycle for most of the year. In the short each cycle has extended & this one is no different. Hugely BULLISH
5/ FED = UNCERTANITY
I personally believe people are waiting for the FOMC meeting this week. To see whether they increase #tappering to reduce #inflation.
But many people this year will have got #REKT'd on projects like #dogecoin#shiba
Starting out in #crypto is hard.
Here is a simple thread top stop you getting wrecked π§΅π
RT if you like βΊοΈ
1/ GET RICH QUICK - PT1
You hear stories of people making millions overnight like @ProTheDoge , who bet everything on $DOGE. But 99% of the time its pure luck.
2/ GET RICH QUICK - PT2
New investors are seduced by the #moon potential of smaller projects & invest more than they can afford to lose.
Remember to always only invest what you can lose & take profits when you can!
My biggest gains this year where by getting in early on $matic #Polygon , $gala #GalaGames and $SOL #Solana
But overtime i alway try to put profits into #btc#Bitcoin
Here are some of the best tools i use to analyse Bitcoin price action. π§΅π
RT/Share if you found it useful
1/ CBBI INDEX
The CBBI index is awesome, it compiles some of the best leading indicators out there into one metric. Its almost always spot on too. If the score is over 85 sell, below 20 buy.
The best single indicators for me which is the Mayers multiple. It has been scarily accurate too overtime. It compares the current price against the 200 day moving average
Things may be looking up on #Bitcoin#btc
Here is a thread where my head is at.
Do your own research etc.
π§΅π
1/ I was nervous about the #evergrande news the other day, but i think its super bullish that there wasn't a sell off. Perhaps it was already factored in. Nobody really knows, they're lying if they say do.
2/ I was nervous about a potential near term upwick in #bitcoins going onto exchanges but this has quickly trended down again. Looks like Whales where messing with us potentially. This is a bullish sign.
Starting out in #crypto is hard.
But here is a list of useful tools i use π§΅π
Pls comment/let me know what u think
1/ As i said before focusing on Tokeconmics is more important than price action. Especially important is comparing Market Caps. @MarketCapOf is simple and great tool that can help with that.