π₯ Cheers to those who got $BTC #Bitcoin near the $16,000 low. I reinvested at $30,505 (3 months back) and $33,850 (yesterday). Expecting further rise as the '23/'24 Stock Market decline unfolds. $BTC #Bitcoin is currently above its anchored β VWAP line set at the 3/12/2020 (COVID Crash Low), now at 30,914, as depicted in the BTC Daily Chart.
The $NDX, $QQQ ( $NASDAQ -100 ETF) and the $XLF (S&P Financial Sector ETF) dropped -9% and -10%, respectively since the Sep 2023 Hindenburg Omen (HO), while $BTC #Bitcoin surged by 30% during the same ~6 weeks, indicating a promising divergence.
Note: All crashes and severe declines in the Stock Market since 1984 were preceded by the HO.
In contrast, $BTC #Bitcoin stands to significantly rise once it's propelled by mass adoption by institutions, ETFs & other instruments, and retail investors.
The #AAII_Bearish_Sentiment, which represents retail investors π€‘, is at 43% (
http://aaii.com) and is expected to surpass 50% during a #selling_panic in volume.
The NAAIM (Investment Managers) exposure index fell to 25% this week. Not quite bearish yet compared to Oct 2022 (at 12.5%), when the stock market bottomed.
Lastly, the NASDAQ Chart (initially posted last month) reveals that after the Nov 2021 cluster of #Hindenburg_Omen (HO) flashes, the Stock Market indeed experienced the '21/'22 severe decline, with the NASDAQ plummeting -38% from its 16,212 peak (Nov 2021) to its 10,089 bottom (Oct 2022) when panic/bearish sentiments were at their peaks.
/production/original_552866588.png)
/production/original_533409407.png)
/production/original_551216744.png)
/production/original_551202542.jpeg)
/production/original_549351872.png)
/production/original_547816775.png)
/production/original_547817468.png)