I'm 99% sure bitcoin is about to explode to the upside
With every day of excruciating stability (and various altcoins pumping in the meantime), I'm more and more sure the market bottomed months ago. Everything is slowly falling into place, and it's already broken out of the most significant linear resistance according to my "personalized bitcoin index" chart, which averages the price across 9 exchanges while factoring in the price of USDT/USD(at Kraken) where applicable(Binance, Bitfinex, and Poloniex). It's currently just under the most significant resistance on the log scale chart. This chart produces a clear triple bottom formation, as seen below(click/tap it for full-size).
Breaking out of the log-scale resistance should be pretty exciting, as the targets of the falling wedge and the triple bottom act as magnets for future price action.
My most recent YouTube video from October 24th is titled "Bitcoin bears will be more rekt than stock market bulls,", where I talk a lot about the stock market and the U.S. Dollar currency index being a risk-off asset that's not as safe as investors bailing from the stock market assume that it is. I believe the maine reason bitcoin isn't mooning already is that DXY has been so strong lately, which I attribute only to the stock market decline. I've been watching it closely for months, and it's been bearish patterns after/within bearish patterns most of the time, until everything went to shit in the stock market. My medium-term head and shoulders pattern on DXY was invalidated recently only to form a very likely double top. The long-term inverse correlation between BTC/USD and DXY is strong. When BTC was at it's ATH, DXY was at the neckline of a head and shoulders pattern on the weekly chart... Trump is incompetent, and America is losing respect around the world, largely due to him. Also, the chart for the Money Supply M0 since 2008 is absolutely ridiculous. I think of it like a circulating supply of a cryptocurrency, and it reminds me of the situation with bitconnect last year to be frank. Bitcoin remaining stable during the stock market bearishness and DXY's recent bull trap is extremely bullish for bitcoin as far as I'm concerned, especially considering the usual almost minute-by-minute inverse correlation between DXY and BTC/USD that I had been noticing for months.
Lastly, there's a couple recent tweets of mine I wanted to point out. One of them involves my ongoing analysis of BTCUSDLONGS and BTCUSDSHORTS. More (very significant) bullish divergence on BTCUSDLONGS, and it just stuck a low at the bottom(point X) of the long-term bullish Gartley I've been talking about. Meanwhile, BTCUSDSHORTS has triple topped(subsequent to the first top at the same level earlier this year) at the PRZ of the bearish butterfly I'd been talking about, and more (also very significant) bearish divergence has formed. Then there's the volume indicator on my personalized bitcoin index chart, which shows a different story from most other bitcoin charts, I assume mainly because USDT/USD was bought up quite a bit yesterday.
Bullish (AS FUCK) until proven bearish...
My 24/7 livestream, "Not Financial Advice(Keeping an Eye on Crypto)"
https://youtube.com/tomasssteven/live
or
-Tom(@MyEmpireOfShit)
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