BTC closes below 8 year support
BTC/USD COINBASE:BTCUSD
As we can see in this picture, on the log. scale, btc has closed below a very big support on the weekly of last week.
What does this mean? It can mean several things but let’s stick with facts. Last time btc did this was in March of 2020 in the middle of a pandemic.
During btc’s tenure, it has been moving vertically in large part thanks to easy monetary policy .
The fed is for the first time applying QT in a very aggressive manner in an attempt to quell inflation .
As such I am currently short on btc and everything other than the green back.
