Today for the bitcoin price and you can see it already in the title. Probably, you are confused because you know how the chart looks for Bitcoin – doesn’t look all too good. Why am I making this statement here? I want to say that I have one shot I wanted to show you for a long time and, actually, now I have the best opportunity to do so, which actually shows the US a very clear direction for Bitcoin which might be surprising.

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Let’s go straight into the chat. Let’s talk about what’s going on, first of all, it’s not the chart I wanted to show you. This chart I have shown you multiple times right where we have the 11-year resistance this long is the Bitcoin price in the last 12 years, 11-12 year resistance and every single time. We are touching this. We are going into the severe bear market right, we’re touching it there going to a severe bear market and then, of course, this time for the first time ever and that is already the starting point of the story here. We touched it two times right, we touched it boom down and then we touched it. It is once again here and this severe bear market. I don’t know where it is right, it’s just not happening now. The question is: it going to happen well? 

If you’re looking here, if you’re zooming in it seems like because we just broke a multi-month trend to the downside confirming the breakout, not bullish actually very bearish. But, the more we are zooming out, the more it begs.The question is: this really what’s happening right now? Should we really be very bearish on Bitcoin or is this the exact moment where we should be much more bullish than ever before? I mean I want to show you one chart here the last time this happened.

What basically happened this week. Bitcoin went from 3800 US dollars, all the way up to 64 000 US dollars to 69 000 US dollars actually now. Let me go straight into it here before I go into the charts and tell you exactly how I am ruling out this, how I am ruling or handling this situation for Bitcoin? I want to go into this chart and here. I want to give a big shout-out to crypto rover my friend from the Netherlands who I think lives also here in Dubai. Big shout out to him! He prepared this chart. It’s a chart I wanted to show you for a long time. I’m going the easy way I want to show you this one here. So, he said that on Twitter. What you can see is the orange line is the bitcoin price right and the green line is the US dollar index and what you can see of course the bitcoin price you’re very familiar with that I just showed it to you before but the green line is interesting it’s the US dollar index so the higher the green line goes, the stronger the US dollar is so, of course, we have it going here very high the US dollar index going to 103 which is historically extremely high. It was very strong the US solar in 2017 and what happened was the beginning of this crazy bull run of Bitcoin from 1 000 US dollars all the way up to 19 700 US dollars. 

Then the bear market usually hits, when the US dollar is weak that’s where the bear market starts. Then you can see right here and this here where I’m zooming in. This is March 2020 this sea dumps the black Thursday where like everything went bearish. Everyone sold their assets that’s important to understand where it says bull run 2020 in this exact moment that was the black Thursday. So, everyone sold their assets gold silver crypto Bitcoin everything into US dollar. If you sell into the US dollar, of course, the US dollar is getting stronger as demand for the US dollar is increasing and historically when the US dollar index is high when the US dollar is very strong. 

Everyone is bearish on assets like Bitcoin that happened right here where bitcoin just dumped down to 3 100 US dollars and the start of the boron 2020 unfolded now. We had a very weak US dollar actually in the year 2021 where we had the bull market top US dollar weak people sending US dollar into bitcoin but ever since then for the last man it was like a disturbing let me go back it was a disturbing boring frustrating time in terms of prices but ever since then dear ladies and gentlemen the US dollar got stronger and stronger and stronger and we are right now getting into this incredible zone of strength for the US dollar. This zone is usually the beginning of a big bull market and I have to tell you this doesn’t tell the US exactly it’s starting today. 

What it is telling the US though historically speaking every single time the US dollar index went into this red area. It was a question of weeks where the next bull market started. So, translated into price predictions subjective, price predictions might be wrong might be right. It means Bitcoin can still go lower right. My worst-case scenario is and was, and will be 30 000 US dollars. Possible, unlikely, possible what I am telling you though in the next few weeks much more likely than not. The next bull market is going to start and this is important, if you are trading fine I have the links down below you can get a bonus trade.

If you’re an experienced trader but more importantly, if you are not owning any bitcoin right now, or if you have disposable income which you don’t need for your living, of course, make your own research. Buy, invest, and purchase everything at your own risk only. My subjective opinion, but you are running the danger of standing on the sidelines when the big moonshot comes, do you want this or not.

This article is a transcription of a video made by MMCrypto 

Original video: