Bitcoin: Relief Rally Then Dip

Mar. 10, 2022 11:59 PM ETBitcoin USD (BTC-USD)GLD, QQQ9 Comments
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Bitfreedom Research


  • Bitcoin's rangebound movement looks healthy against a nearly inverted yield curve, ongoing war, sanctions, falling stocks, high commodity prices, and a CPI print & European Central Bank meeting this week.
  • Amidst fear, mistrust and uncertainty, outside money such as Gold and (and eventually Bitcoin) reign king.
  • A move above $40K can cause a FOMO-driven relief rally.
  • Alternatively, Elliott Wave Theory suggests Bitcoin can again touch $28K.

Bitcoin cryptocurrency background. A bunch of golden bitcoin, Digital currency

Tevarak/iStock via Getty Images

In hindsight, the laser eyes were Bitcoin's (BTC-USD) top signal.

 the laser eyes were Bitcoin

Laser eyes top (Google Trends)

Bitcoin is still young and competing against multi-century monetary premiums held by gold (GLD), bonds, and fiat currencies. As a result, Bitcoin

chart displays Bitcoin

Bitcoin logarithmic growth curves (TradingView)

Elliot wave retracement

Elliot wave bear market (TradingView)

VPVR point of control

VPVR point of control (TradingView)

Bitcoin logarithmic growth curves

Bitcoin logarithmic growth curves (TradingView)

Quarterly futures annualized basis

Quarterly futures annualized basis (Glassnode)

This article was written by

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Preparing investors for the Information Age.We analyze investment opportunities by factoring in global markets, equity markets, commodities, and economic news.Follow us on Twitter, YouTube, and TradingView for real-time market updates.

Disclosure: I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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