What About The Fundamentals? Bitcoin

3 jul

This is the question being asked by really smart people and I belief it is a valid question... Don't you agree?

We are back with another article and we had enough greetings for today, so let's dive in.

➖ "The fundamentals are great Alan, so why should Bitcoin drop?!"
➖ "What about the fundamentals?"

Let's start by asking a few questions in return:

➖ Were the fundamentals bad in June 2022?
➖ What happened to the fundamentals in November 2022?
➖ Were the fundamentals better in January 2023?
➖ Did the fundamentals go bad in June 2023?

When we look at the chart, we can see prices fluctuating... Very strong fluctuations and these fluctuations we call, "the market cycle."

For Bitcoin, these fluctuations are affected mainly by the halving event but what causes the actual tops and bottoms, peaks and valleys, are the insiders buying and selling. Those market participants we call "whales."

When the whales decide to sell, we get a peak/top.
When the whales decide to buy, we get a valley/bottom.

👉 Bitcoin's fundamentals are always better, have been improving and continue to improve since day one but, we can clearly see (on the chart) prices fluctuating based on cycles...

Yes, we have great fundamentals and we love Bitcoin but prices are going down based on basic simple signals coming from the charts... Technical analysis... Such as:

1) Break below EMA21 weekly (first time since Nov. 2021 coming from ATH).
2) Test of previous resistance as support.
3) After strong growth, a correction comes.

Bitcoin is going down based on the data coming from the chart (technical analysis).
Fundamentals cannot negate price action. Prices tend to fluctuate when market participants buy and sell.

Since more players are selling than buying, we should see lower prices until this dynamic changes.

Thanks a lot for the inspiration...
Thanks for the support.

Namaste.