DivXMaN
Why did Bitcoin jump 📈 🆙 today?
Bitcoin made it's most bullish move in a month! Why? Throughout this ENTIRE bear market, Hash rate (ie. network investement) has been on the rise. Even with miners capitulating to cover costs. FTX led to a massive rise in self custody. More BTC is moving OFF exchanges than we've ever seen, exasperating the supply shock. Demand = JUMP 📈 🆙 US inflation falls to 7.1%. This triggered the move and shows how correlated BTC is to the FEDs manipulation. 7.1% inflation is TERRIBLE, the fact that people think it's good is somewhat hilarious. 😅 With core CPI rising only 0.2% in Nov., and overall CPI lower the assumption is inflation has peaked and we're going into a deflationary cycle. Very bullish, and precisely why asset prices are all up. Now, the daily. Short term support at 16-17.2K, and resistance at 19-19.6K. Larger resistance = 200 EMA at 22.3K. Hard to imagine anything worse than FTX happening at this point. For me, the strategy remains the same. DCA and accumulation continues.