Top 3 Bullish Signs for Bitcoin & Crypto
LADIES AND GENTLEMEN. THE (real) TOP 3 REASONS TO BE BULLISH ON BITCOIN AND CRYPTO.
Starting off with #3. The Technicals.
Higher lows keep forming on the daily.
RSI at healthy levels.
The 50 day EMA has been strong support for over a year.
But just simply ask yourself, when was the last time a bull market was over, after an extended period of price consolidation, the answer? Never.
VPVR indicates strong support.
S2F model on track.
Price discovery mode above $62k.
Moving on to number 2. Aka, The Liquidity Crunch.
Bitcoin held on exchanges continues to decline. Even the amount of Bitcoin moving continues to reduce. Long term holders of Bitcoin continue to accumulate. Bitcoin whales are not mass selling. The Bitcoin supply gets lower every day. Totally unprecedented in a bull market.
Combine these circumstances with an increase of adoption.
Tesla accepting Bitcoin that they won’t sell.
Goldman Sachs offering Bitcoin products.
JPMorgan offering Bitcoin products.
India doubling back on it’s Bitcoin ban
Whole countries like Pakistan developing Bitcoin mining programs
Bitcoin on PayPal.
Michael Saylor says there is a flood of more institutions coming.
But most insane of all. Paris Hilton is bullish.
Disclaimer: I am not a financial adviser and this is not financial advice.
#crypto #cryptocurrency #bitcoin