Monthly DOJI rejection of long term trend line
Just printed a monthly doji rejecting the long term trend line which we have been below for months.
The break below the trend line could be an indication of a new pattern forming on Bitcoin. The DOJI rejection seems to confirm this. If we have a follow through red month close for March then we are likely in some new phase for Bitcoin which would make sense given the Global Macro bearish environment with recession to come. End of the 90 year cycle, end of the 49 year cycle of declining yields which ended in 2020. The period most similar is the Great Depression. If we don't break above this trend line and instead continue lower along with a breakdown in equities. Could this mark a more significant decline for Bitcoin?
Sure would be a perfect setup to usher in CBDC as crypto is deemed too risky for investors.
The break below the trend line could be an indication of a new pattern forming on Bitcoin. The DOJI rejection seems to confirm this. If we have a follow through red month close for March then we are likely in some new phase for Bitcoin which would make sense given the Global Macro bearish environment with recession to come. End of the 90 year cycle, end of the 49 year cycle of declining yields which ended in 2020. The period most similar is the Great Depression. If we don't break above this trend line and instead continue lower along with a breakdown in equities. Could this mark a more significant decline for Bitcoin?
Sure would be a perfect setup to usher in CBDC as crypto is deemed too risky for investors.
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