BTC is winding up and just like a spring it's going to pop.
Data:
- The MACD is flat so not much momentum
- We are making higher lows but also lower highs
- The news has been hammering BTC to the downside but it has held better than traditional stocks
On the surface there is no real indication of direction. However, if we look at some onchain data it becomes more clear:
- We are at yearly lows for exchange balances
- We are approaching all time highs for coins older than a year
- TVL in defi continues to trend higher with serious underlying value increasing for crypto
- BTC is started to de-correlate with normal stocks
I am extremely bullish for the next 6 months, as long as nothing major comes in and wipes out BTC and stocks, like nuclear war, I think this is a great time to get in.
Data:
- The MACD is flat so not much momentum
- We are making higher lows but also lower highs
- The news has been hammering BTC to the downside but it has held better than traditional stocks
On the surface there is no real indication of direction. However, if we look at some onchain data it becomes more clear:
- We are at yearly lows for exchange balances
- We are approaching all time highs for coins older than a year
- TVL in defi continues to trend higher with serious underlying value increasing for crypto
- BTC is started to de-correlate with normal stocks
I am extremely bullish for the next 6 months, as long as nothing major comes in and wipes out BTC and stocks, like nuclear war, I think this is a great time to get in.