Everyone in the world currently has a stressful moment visiting gas stations, they'll be delighted to hear, that for a few months forward this situation will get better as $OIL will be getting cheaper
However that will only apply for a while 👇
1/14
After the covid crash across global markets, we've seen some unprecedented printing that has sent the prices of assets to big highs, Oils included.
Oil is slightly lagging behind the rest of the commodities but we can expect the correlation to follow others
2/
Here we have #Copper & #Oil merged together, we can see the correlation being very effective & while most commodities have already pulled back to retest their previous support areas, Oil is yet to do so
It is merely lagging & stayed strong due to the war in Ukraine. For now.
3/
Note:
I have already written a huge thread on how commodities correlate with each other, including #Bitcoin.
If we simply look at the TA perspective, It has run from nearly zero to nearly new ATHs in just two years.
It has touched a prior untested resistance while taking a good chunk of liquidity which has been very well absorbed for the past months
5/
My estimate is that we are gonna retest the breaker point aka untested support this time around 77$
That will give a relief bounce down for many people as Gas prices have been really high this year
6/
Price tends to test its prior supports and we have a Monthly area of interest sitting in the blue zone below
From a Daily standpoint, the price has already entered a Bear Market in the Daily timeframe.
The same thing that has happened on #SPX prior to sell-off
7/
We have been held by the green zone support for a while as we have entered the distribution area, the same way, #Silver & #Copper has before the breakdown
And my estimate is, we gonna see the same thing here, just lagging
Remember, cash is trash and what we are seeing is the last point of the dead cat pump of fiat currencies before they head into their inevitable path of the graveyard, in their current form, with a survival rate of zero, in human history.
11/
So expect gas prices to get better for the rest of the year, maybe early next one, but expect them to get ridiculously high before this decade ends.
Luckily you can protect yourself and others by moving your savings into scarce stuff
I do hope you enjoyed this thread & learned something valuable, something that could improve your life going forward
If you have, consider RT this thread with your friends by helping them as well which ultimately helps all of us. Thank you for taking the time to read it 🙌
14/
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#Bitcoin to hit 689 000$ ‼️
--
Lots of people ask me what my TP is for this cycle as it seems everyone is so obsessed with TPing as fast as possible because
"One more pump & then a bear market (Or one final sweep then a bull market 🤣"
My stance is & always has been this:
👇🧵
We remain bullish as long as the market is.
Obviously, this is not popular on social media because everyone wants to hear certain numbers whether that's 90K or 900K so they know what to expect & it also brings so much engagement
Saying we stay bullish as long as the market is pretty much a vague term but it is the one that produces the most money
Because we never know how long the bull market will last and even the best investors in history got burned hard trying to short the dot-com bubble too early
This is what I keep reading here but I have to strongly disagree
In this thread 🧵 I'll go over why any move for #Bitcoin from here will be detrimental & why it's either gonna become a HTF distribution or re-accumulation
1/15👇
#BTC since 2022 has been mainly defined by these three major ranges with a mini one in between at 40K
The current one takes 192 days, compared to the 220 days between 25-31K & 276 days of the bottoming one
To contextualize things and put them into perspective
The topping range in Q1-Q2 2021 took about 97 days & the top range in 2019 took about 96 days
This makes the current being twice as long as those topping ones
It made sense to stay 🐂 on #Bitcoin as long as the trend & range were holding & equities were going up but now it has lost its MS after 130 days of 🦀 PA & we need to adapt
I'll break down all the facts you need for all scenarios in understandable language below 👇
1/18 🧵
When it comes to bullish/bearish posts it always comes down to TimeFrames. You can have a trader that is bullish on H1 screaming at a bearish trader on D1 while the Weekly trader is bullish again
It makes no sense & we need to analyze each one differently to understand the TF 👇
The macro view, which is like a Monthly to somewhat Weekly, remains bullish, while Weekly down to Daily is now bearish
The M1/W1 TF remains bullish as long as the 39K low is holding but locally we can be bear-bleeding for some time as the 130 days long #BTC range was lost
You don't wanna miss this #Bitcoin alpha thread 🧵👀
#BTC around 50K is still within a strong value area
Lots of people sidelined, waiting for a bigger correction will miss out
Data from Financial Advisors across the US are suggesting big future upside
1/20
Read below👇
First of all, I did expect we would get the upside we got from the 40-45K range, but after, I thought we would get a deeper pullback at some point to like 32K or so
I do not think that anymore
Below is the original thread worth your time to read through
No emotional bias, just truth bombs full of data & mainly my own context ✅
Both bullish & bearish arguments - HTF to LTF
Hit like & Bookmark to keep this plan in the back of your mind
Let's get to it 👇
1/25
We start HTF, scale in & create the valuable context 👇
So my thesis has been & is still the same throughout the whole of 2023, that we move above the so important psychological level of March 22 high, sitting at 48K, distribute above & pullback