💎BTC/USD🌴FREE UPDATE🌴
-Yello Ladies and Gents🥂😎
💎Bitcoin is taking the recent events in Georgia and Washington DC in its stride, and current price action is certainly not suggesting that BTC has topped out by any means.
💎Currently broke out the major resistance zone 36-38k. There are almost no sellers now. We are getting through supply shock.
💎The Democrat win is very bullish for BTC in our opinion. It is tough to find a bearish catalyst aside from regulation right now. Chuck Schumer yesterday also noted that he would be pushing for $2,000 stimulus checks as the first call of order in the U.S. Senate.
💎Continued U.S. dollar depreciation is another developing story to watch under the Democrats in 2021. It will be a likely consequence of more fiscal and monetary stimulus. This certainly plays into the BTC bull case.
💎On-chain data also shows more room for BTC price expansion. Glassnode, the blockchain analysis platform has designed an on-chain metric called the MVRV Z-Score. It is used to assess when Bitcoin is over or undervalued relative to its fair value. 👉Check here (click it)
💎A score below zero is a sign of an undervalued Bitcoin. Meanwhile, anything above 7 indicates a market top or an overbought Bitcoin. On Wednesday, the metric hit 5 for the first time since 2017. Considering that previous tops have been close to 10, it may indicate BTC still has significant appreciation ahead.
Before some major correction, 50k Bitcoin is on the table🚀
-Yello Ladies and Gents🥂😎
💎Bitcoin is taking the recent events in Georgia and Washington DC in its stride, and current price action is certainly not suggesting that BTC has topped out by any means.
💎Currently broke out the major resistance zone 36-38k. There are almost no sellers now. We are getting through supply shock.
💎The Democrat win is very bullish for BTC in our opinion. It is tough to find a bearish catalyst aside from regulation right now. Chuck Schumer yesterday also noted that he would be pushing for $2,000 stimulus checks as the first call of order in the U.S. Senate.
💎Continued U.S. dollar depreciation is another developing story to watch under the Democrats in 2021. It will be a likely consequence of more fiscal and monetary stimulus. This certainly plays into the BTC bull case.
💎On-chain data also shows more room for BTC price expansion. Glassnode, the blockchain analysis platform has designed an on-chain metric called the MVRV Z-Score. It is used to assess when Bitcoin is over or undervalued relative to its fair value. 👉Check here (click it)
💎A score below zero is a sign of an undervalued Bitcoin. Meanwhile, anything above 7 indicates a market top or an overbought Bitcoin. On Wednesday, the metric hit 5 for the first time since 2017. Considering that previous tops have been close to 10, it may indicate BTC still has significant appreciation ahead.
Before some major correction, 50k Bitcoin is on the table🚀
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Follow a team of traders with 10+ years of experience?
Join FREE👉 t.me/+QwK2mkoTGBU0Nzc0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV