BTC - Daily / The Purposeful Failure to Comply
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.
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.
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