BTC Analysis I'll cover fibonacci, volume range, general trend, macro correlation coefficient and MA analyses.
This spread graph pins BTC against safe heaven assets, which include: Commodities (SP:SPGSCI), the U.S dollar (DXY/M2SL) and U.S Bonds (1/(TVC:US03Y+TVC:US02Y+TVC:US05Y+TVC:US10Y+TVC:US30Y)+1). Given representation of BTC's price accounts for various allocations of investors' capital to evaluate it's true intrinsic value. This favors accurate measurements.
Fib Analysis
The significant accuracy of demonstrated Fib levels confirm their precision. Current price level appears to be weakly breaking out of its fib resistance.
General Trend
Monthly:
Weekly:
BTC seems to be breaking out of the green parallel channel. In line with current economic conditions BTC's price is trading at it's lower price range.
CC & MA Ribbon
Pane above illustrates BTC's correlation coefficient with those safe heaven assets. A peak in their relationship implies a climax in BTC's short-term trend with those assets; acting as an RSI.
Volume Profile
This indicator is extremely useful, however difficult to use in long-term analysis. Through utilizing the ''free fall'' parallel channel(pink) and the indicator, evident resistance/support line intersections may be useful for evaluation.
Conclusion
Returning to the main graph, having had considered all these points, I presented an opinionated path of my prediction for BTC.
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