During the beginning of the descent many rightfully called BTC forming a double top when divided by m2 money supply ... since then ive barely heard it being mentioned so i wanted to check it out and found out this chart actually tells a good story.
Most major reactions have occurred based on significant highs or lows being swept ( symbolized by the $$$ ) and while we are yet to see a reaction , we did hit a daily OB which is located right before the big breakout to April 2021 high. I will probably be looking at this chart more often in the coming weeks as it is rather beautiful and logical. The m2 money supply is basically the money in circulation, it effectively shows the asset as a % vs total money but in candle format.
While this isnt necessarily a predictive chart, I thought you may want to be made aware of different metrics you can measure against - the m2 money supply is definitely interesting.
ps : there's a $$$ line yet to be swept ;)
Most major reactions have occurred based on significant highs or lows being swept ( symbolized by the $$$ ) and while we are yet to see a reaction , we did hit a daily OB which is located right before the big breakout to April 2021 high. I will probably be looking at this chart more often in the coming weeks as it is rather beautiful and logical. The m2 money supply is basically the money in circulation, it effectively shows the asset as a % vs total money but in candle format.
While this isnt necessarily a predictive chart, I thought you may want to be made aware of different metrics you can measure against - the m2 money supply is definitely interesting.
ps : there's a $$$ line yet to be swept ;)
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