BTC's market structure compared to NIO's (EV) shows potential
Updated
Hey, here I share an idea.
NIO is a Chinese EV's company.
I don't have some strong arguments to compare these two, but I believe we can see a reflect of the risk's markets on their structure.
That said, I believe that BTC did find a bottom on 30k and could test higher, between 46k and 50k.
I would long this with no leverage, just in case it does test 20k later.
Do you think the MAs are showing some information?
Let me your opinion in the comments.
NIO is a Chinese EV's company.
I don't have some strong arguments to compare these two, but I believe we can see a reflect of the risk's markets on their structure.
That said, I believe that BTC did find a bottom on 30k and could test higher, between 46k and 50k.
I would long this with no leverage, just in case it does test 20k later.
Do you think the MAs are showing some information?
Let me your opinion in the comments.
Note
Looks like Binance took the lead!Wasnt supposed to work that way tho lmao
Order cancelled
History speaks.Got into new highs, and now testing prior ATH: 20k.
BTC might see more drawback, but as I detailed on the DOGE post, I think we already found a local bottom.
Maybe test 30k?
Anyways, I dont expect much upside until 2023. The political and economical context of the globe isn't one that would bring optimism in a risk asset as crypto.
As both politics and economics depends on a few person's decission, this might change fast.
Note
A few points about this chart: *This is the first time BTC test prior ATH between cycles.
*This dump correspond with the middle cycle dump between halvings.
*FED monetary sheet went from 3T to 8T in 2020, and BTC's increased price from 20k to 60k.
tradingview.com/chart/kbaiVDfK/
Highlighted price zones:
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