Long range view of bitcoin
I have to believe the crypto will only gain momentum and acceptance in the face of world turmoil. I am looking for the signs of a break from its coupling to the world financial markets.
If the covid epidemic resurges post memorial day weekend and brings about the second bottom for the markets, i am looking for bitcoin to become a financial safe haven where scared investors may leave some of their assets stashed, while selling off traditional investments.
We are approaching the squeeze between the covid spike support and the prominent 10K resistance. Who will prevail as this argument resolves? Will we start stair stepping up the fib channel to the longer term resistance levels, or arc back down to long term support to regroup and establish a new vector of momentum?
If the covid epidemic resurges post memorial day weekend and brings about the second bottom for the markets, i am looking for bitcoin to become a financial safe haven where scared investors may leave some of their assets stashed, while selling off traditional investments.
We are approaching the squeeze between the covid spike support and the prominent 10K resistance. Who will prevail as this argument resolves? Will we start stair stepping up the fib channel to the longer term resistance levels, or arc back down to long term support to regroup and establish a new vector of momentum?
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