3x All Time High sharing the same horizontal resistance
The Federal Reserve had 7.17 trillion U.S. dollars of assets on their balance sheet as of June 3, 2020, up from 4.17 trillion U.S. dollars on February 19, 2020.
Source: fred.stlouisfed.org/series/WALCL
From July 2020 until today, USA has been injecting approximately 1 trillion USD every 8.5 months continuously.
This becomes evident when comparing BTCUSDT peaking in November greater than peaking in April, while PAXGBTC (with inverted graph to illustrate BTC growth) shows that all BTC ATH (All Time High) share the exact same line of horizontal resistance.
Therefore BTC "became worth more in November" because USD inflated.
By analyzing BTC~GOLD and plotting reverse fibonacci retracement to find out how much more BTC can depreciate, it turns out that the bottom 1.0 fib shares the same value of resistance and support (light white horizontal line) at 0.04541.
This analysis aims to show that BTC may be forming Ascending Triangle Pattern (referring to my last post).
Thanks @Bagnuss for sharing the idea
Source: fred.stlouisfed.org/series/WALCL
From July 2020 until today, USA has been injecting approximately 1 trillion USD every 8.5 months continuously.
This becomes evident when comparing BTCUSDT peaking in November greater than peaking in April, while PAXGBTC (with inverted graph to illustrate BTC growth) shows that all BTC ATH (All Time High) share the exact same line of horizontal resistance.
Therefore BTC "became worth more in November" because USD inflated.
By analyzing BTC~GOLD and plotting reverse fibonacci retracement to find out how much more BTC can depreciate, it turns out that the bottom 1.0 fib shares the same value of resistance and support (light white horizontal line) at 0.04541.
This analysis aims to show that BTC may be forming Ascending Triangle Pattern (referring to my last post).
Thanks @Bagnuss for sharing the idea