Identifying Potential Bitcoin breakout w/ lvls identified
LRC identifying potential
BTCUSD
breakout
BTCUSD
breakout
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2) This is the chart w/ lvls when LRC is removed
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3) Chart w/ lvls plotted upward.
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4) All lvls identified w/ LRC from chart 1
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Update: Day 2
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History has shown that volatility within the global markets majors has led to $BTC declines.
Theory: If $BTC begins short squeeze prior to/or inline with increasing global stock market fear , then $BTC would outperform over the ensuing weeks & months . Volatility would likely carryover into the already volatile crypto markets generating larger price swings outside SD2 & SD3; however, short sellers would likely continue to add to short positions the closer to SD2/SD3 resistance levels while failing to cover positions at SD2/SD3 support levels.
1) The momentum inflows from the global major markets, 2) the squeezes put on the short positions, 3) as well as the inverse capitulation of the bottom feeders who had been anticipating a further downside in crypto markets, could then result in the perfect storm of Bitcoin price discovery.
Theory: If $BTC begins short squeeze prior to/or inline with increasing global stock market fear , then $BTC would outperform over the ensuing weeks & months . Volatility would likely carryover into the already volatile crypto markets generating larger price swings outside SD2 & SD3; however, short sellers would likely continue to add to short positions the closer to SD2/SD3 resistance levels while failing to cover positions at SD2/SD3 support levels.
1) The momentum inflows from the global major markets, 2) the squeezes put on the short positions, 3) as well as the inverse capitulation of the bottom feeders who had been anticipating a further downside in crypto markets, could then result in the perfect storm of Bitcoin price discovery.
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Furthermore, the monetary base which has far distanced itself above its own 1 year moving average, should allow for $BTC to join the commodities boom when provided the opportunities for absorption of these monetary imbalances during the commodities super cycle.
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Short-term (5m) 3SD support currently sits on the 4h Linear Regression Line
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Update (+10 Days) to the local lvls identified in the 18OCT chart above
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...and we're back 😍😍
1) LRC & Identifying local levels