๐ฅ Bitcoin VS Bananas ๐: Bullish Move After Cooling Inflation
In today's analysis I want to shed some light on the Bitcoin divided by the 1000kg Bananas ๐ price (PBANSOPUSDM). In other words, how many thousands kilo's of Banana's ๐ can we buy with 1 Bitcoin.
As seen on the chart below, Banana's ๐ have been gaining nearly 50% in value during the high inflationary period between Nov 2021 - Dec 2022. Recently, the price of Banana's ๐ has been quite stable.
After reaching the 11 - 8.50 support area after the FTX collapse, the chart reached a critical support zone. Traders saw this as an opportunity to transfer their Banana ๐ wealth into BTC, with great results.
In my view, we're rapidly approaching the Summer 2021 support area of 23 - 26 thousand kg Banana ๐ per BTC. Experienced Banana ๐ traders will most definitely sell some of their Bitcoins for Banana's ๐ around this area, so watch out for a reversal.
Also, note that the gains on Banana's have been huge over the high inflation period. On the BTC/USDT chart we're already trading at the Summer 2021 support area, but on this chart we're still ~35% away from it.
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Check the date
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As seen on the chart below, Banana's ๐ have been gaining nearly 50% in value during the high inflationary period between Nov 2021 - Dec 2022. Recently, the price of Banana's ๐ has been quite stable.
After reaching the 11 - 8.50 support area after the FTX collapse, the chart reached a critical support zone. Traders saw this as an opportunity to transfer their Banana ๐ wealth into BTC, with great results.
In my view, we're rapidly approaching the Summer 2021 support area of 23 - 26 thousand kg Banana ๐ per BTC. Experienced Banana ๐ traders will most definitely sell some of their Bitcoins for Banana's ๐ around this area, so watch out for a reversal.
Also, note that the gains on Banana's have been huge over the high inflation period. On the BTC/USDT chart we're already trading at the Summer 2021 support area, but on this chart we're still ~35% away from it.
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Check the date
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