That being said, I anchored this ‘bar pattern fractal’ back in January and Bitcoin has been following it to a tee thus far.
Today I simply converted it to a line pattern to capture a clearer picture of the possibilities here..
The Bitcoin Fear and Greed index hit ’20’ yesterday, which exemplifies ‘Extreme Fear’. Now is an excellent time to take a step back, deconstruct the nature of our socially constructed realities, and ponder yet once again what the future may hold for bitcoin .
The meta is there. Hyper-inflation in developed countries is around the corner. Bitcoin is a solution to hedge one’s self against said . Real estate keeps going up? Bitcoin is real estate in your pocket; with no maintenance required; no property taxes; no HOA fees.
All things considered, my instincts tell me that we are in the intermission phase right now as it relates to Bitcoin . Let it consolidate for a few more weeks, or even correct back down to $38,000-$43,000. Who cares? The point is the general trend is up.
This is half-time. Get up, walk around, stretch a bit, but you better get back in your seats before the third quarter starts.
(not financial advice ;)