BIG NEWS TODAY, good and bad…
1. Trump signed an executive order opening retirement plans to investing in crypto. But it also gives access to private equity, the world eating market makers that will sell their own children’s organs individually because it nets a bigger return than an entire 7 year old. This is concerning but obviously bullish for Bitcoin.
2. Trump is naming Stephen Miran to fill a six-month vacancy on the Federal Reserve's board of governors. He’s very pro-BTC, it this is a temporary position. The 14 year long term on the board isn’t being filled until next year.
I’ve been waiting for Bitcoin to correct on the shorter term models. It’s SCREAMING correction now, and we need it to cool down and let altcoins gain dominance.
The fact that we aren’t yet correcting and continue to push higher, almost back to the pictures trend line resistance, is extremely bullish. But it disturbs a lot of technical models that break under pressure.
The data can only model what it has seen before…
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