BTCUSD. The digital currency is being considered as something which don't have effect of anything. OR, being considered as free from all market factors. But, BTCUSD totally has played according to the technicals since its first bull cycle.
Our system was able to map its history over technicals and it is expected that same technicals will dominate irrespective of the news or halving.
The vale of BTC/USD is 67771.74 right now. It is worth noticing here that price escalated well after ETF. But will that ETF effect continue and merge with Halving ?
A Big No as per our system analysis. The fair value of BTC is lying at 41k appr. So BTC is already overvalued , may be due to ETF. But our system says that price hike was not due to ETF, it was 100% technical play or technical bull cycle.
So, BTCUSD need to reach its fair value first. Once it reaches there it can play highr TF technicals for further hike from 41k . Else, it can also go undervalue to lower support of the channel shown in the figure above.
Nothing is certain until it happens actually. So wait and watch.
JOKE: BTCUSD is not an essential commodity. If someone buys all BTC ,then , will there be essential demand in the word to increase its price ? NO. No one will care as no one will have any bitcoin. I do not care about my dog as I don't have any dog.
This is not a financial advice.
Our system was able to map its history over technicals and it is expected that same technicals will dominate irrespective of the news or halving.
The vale of BTC/USD is 67771.74 right now. It is worth noticing here that price escalated well after ETF. But will that ETF effect continue and merge with Halving ?
A Big No as per our system analysis. The fair value of BTC is lying at 41k appr. So BTC is already overvalued , may be due to ETF. But our system says that price hike was not due to ETF, it was 100% technical play or technical bull cycle.
So, BTCUSD need to reach its fair value first. Once it reaches there it can play highr TF technicals for further hike from 41k . Else, it can also go undervalue to lower support of the channel shown in the figure above.
Nothing is certain until it happens actually. So wait and watch.
JOKE: BTCUSD is not an essential commodity. If someone buys all BTC ,then , will there be essential demand in the word to increase its price ? NO. No one will care as no one will have any bitcoin. I do not care about my dog as I don't have any dog.
This is not a financial advice.