Global currencies performance over the past week:
🇬🇧: –5.3%
🇪🇺: –3.5%
🇨🇳: –2.2%
🇯🇵: –0.7%
BTC +5%
Source: Bitcoin Magazine.
Whatever happened over a week (even over the last week)
(aka quibbling over alleged facts for such a period)is largely noise.. Of course, shit happens and sometimes the noise might contribute towards helping with some kind of theory regarding possible directional changes.. yet in this case, there is a need to zoom out in terms of both time and in terms of how much price movement has been happening - and accordingly analyzing over what has been happening over this past week (so far) seems to be similar to looking at shadows on a cave wall... and largely not very much significance, even if there may well be a bit of an ongoing battle going on in order to try to figure out if BTC price might be able to go lower and is the bottom in, or not...
In other words, the more interesting question that seems to be looming relates to whether the bottom is in or not, and not about whether the BTC price is out performing blah blah blah asset within a week or some other irrelevant made up bullshit parameter that hardly means much of anything unless it is merely understood to be with consolidation zone and a battle for whether the bottom is in or not.
Surely a somewhat interesting dynamic going on in bitcoin in recent times, happens to be that it is gravitating quite a bit at the lower end of a consolidation range that might be characterized as $18k to $25k.. and so yeah, if we were in the middle of that consolidation range (which we are not), there may well be more comfort, but even the middle of the range does not seem to be enough in order to have any kind of confidence that there might be temporary "stability" - if such a thing exists? - in such consolidation range.. so maybe gravitating towards a wee bit higher of a consolidation range that mostly keeps BTC prices higher than the 200-week moving average would seem a bit more "stable" and necessary.. but can we expect what needs to happen to actually happen?.. It is possible that maybe we (in BTClandia) are no longer going to be experiencing consolidation zones that are located above the 200-week moving average and there are more DOWNity forces on bitcoin in recent times and in upcoming times that affect future BTC dynamics.. Perhaps? perhaps?...
I have my doubts about BTC prices continuing with long-term consolidations below the 200-week moving average, but hey? what do I know...? Just going with my assessment based on history, and one thing that we should know about history, is that the present and the future could cause the parameters of (previous) history to change.
Not that Macro-systems give any shits about me, I would prefer no collapse. A collapse would not be good... even though there may be some attempt to do a controlled collapse..
as part of the dollar milk-shake theory - if such a thing is even possible?
Poll
