natoil42.eth
@natoil42
A NEW GOLDEN CROSS SHINES ON BITCOIN AFTER 9 MONTHS On Aug 6th I've analyzed the consequences of the 52-day SMA going under the 182-day, marking an early appearance of a “death cross” Today a new ”golden cross“ appeared and the market is finally primed for a new bull run 🧵1/n
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natoil42.eth
@natoil42
🧵2/n 👉 I explained why the time is ripe on the highlight of Oct 8th The last time this golden cross appeared was on October 30, 2023, exactly one year ago: since them, BTC has rallied for 4 months from $34.093 to $73.757, a 116% increase!
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natoil42.eth
@natoil42
🧵3/n At this time the imminence of the U.S. elections (Nov. 5) is holding down volumes and the total crypto market capitalization, as a Kamala Harris victory would bring a lot of downward volatility, while some fear that Donald Trump's victory may have been priced in.
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natoil42.eth
@natoil42
🧵4/n However, Bitcoin price action in the past has always proven to be more resilient than political events (e.g. U.S. elections) or geopolitical (e.g., international stress and wars), as over the med-long term the price never seems to have been affected.
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natoil42.eth
@natoil42
🧵5/n In contrast, over short-med periods the unpredictable socio-economic events such as the CoViD crash and systemic events such as the FTX bankruptcy have been more impactful, but not even these have been able to divert its long-term course.
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