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This Is Not Investment Advice
Time for a deeper update on Bitcoin.
MVRV Z-Score
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BTC YOY vs M2 YOY
Bitcoin Daily
Bitcoin 4HR
Thoughts and observations:
Market knows and understands Weekly closes below the $107-$109.5Kish crucially important zone are bearish . . . . . . . and though it very strongly teased going below here and staying it has actually done the opposite last few days or so . . . .
Staying above $111.3Kish increases chances of keeping this short term momentum heading in a bullish direction
$117.6Kish Weekly closes above here could potentially change quite a bit . . . . . ultimate bullish breakout to new ATHs potentially comes however with a thrust through $119.6Kish to $121.7Kish
It truly is very choppy, confusing, and misleading at times as we remain kinda stuck in limbo . . . . . incidentally this “no man’s land” positioning very nicely resembles the positions we find ourselves in the MVRV Z-Score tool and the comparison of BTC YOY % Growth to Global M2 YOY% Growth . . . . hangin’ out drifting in the middle
Looking above at the Daily and 4HR we see a fair amount of chop and lack of big thrusts on Volume and Money Flow
Although Treasury Secretary Bessent insinuated and Senator Lummis has stated as such . . . . there remains this cloak and dagger cloud floating around where maybe Bessent would actually monetize the gold and then use some proceeds to buy Bitcoin . . . . but again it’s all tucked away behind closed doors and the market hates constant rumors and innuendoes but loves real data and confirmation and MONEY FLOW so if/when any of this were to actually happen the market will react . . . . until then people are fed little tidbits and slices . . . .
Tidal wave of new ETFs for the “crypto space” is bearish in my view . . . . BTC already competes with all of TradFi in the middle of a once in a lifetime ‘Melt Up’ for attention . . . . . and now all these new “crypto toys” are here competing for attention which to me is simply more distractions and even more competition to get the Money Flow . . . .
In my humble view, the MONEY FLOW will ultimately tell/show us the eventual outcome
