٢٢ يناير ٢٠٢٢
Bitcoin has functioned as a Reservoir for Excess Liquidity. It has never functionally become a fully functioning Currency. Never, nor will it. Ever. Central Banks will not permit that level of competition with other Primary Purpose. ____________________________________________________ Now that we have that out of the way. It is a speculative Instrument that closely follows expansion and contraction of overall Liquidity within the Global Financial Complex and Economies. BTC tends to move in 3 Year Cycles on balance. We had held open $9300 as the Price Objective for BTC off the 69K OPO and 10780 off the 75K OPO. 69L printed and it was all downhill thereafter. _______________________________________________________ Bitcoin will continue the Trend Lower with very minor retracements for now. I'm watching 38, 33, 28, 24, and 22K levels to see how each reaction trades out. The Limited Supply of nothing continues to imbue Hope for a great many. Unimpressed here.