Bitcoin’s Market Structure Incredibly Bullish, According to Economist Alex Krüger
According to economist Alex Krüger, Bitcoin (BTC) is poised for a strong bullish reversal in the current crypto market rally.
Krüger has identified eight reasons for his bullish prediction: longer-term indicators turning green, a bounce off the 200-day moving average, and an air pocket above current resistance.
“- multi-months long consolidation
– momentum indicators turning
– a bottom with max historical volume
– higher low on very high volume
– engulfing candle on even higher volume
– bounce off the 200 DMA
– top of range coincides with 200 wma
– air pocket volume wise above.”
In a Twitter thread, Krüger remarked that BTC‘s market structure is incredibly bullish and that charts rarely get more picture-perfect than this.
If CZ painted this chart, he then must be one of the best painters in the history of bitcoin, as charts rarely get more picture perfect bullish than this pic.twitter.com/UTIwbVcdFl
— Alex Krüger (@krugermacro) March 14, 2023
Krüger believes that the Federal Reserve’s decision on interest rates will determine the future trend of Bitcoin. He predicts that macro factors such as inflation and interest rates will become more favorable for crypto by the end of 2023.
READ MORE: Bitcoin to Experience Meteoric Growth, Says Tim Draper
Highest odds path ahead
– CPI [consumer price index] in line
– FOMC [Federal Open Market Committee] 25bps
– FOMC shifts focus from dots to banks
– Last brick in the short-term wall of worry lifted => strong April
– Inflation starts falling more than expected by mid year
– Happy ending 2023Source: me”
Krüger stated that the chart illustrates the path of least resistance for BTC and that the Fed’s decision on interest rates will likely be the catalyst that makes Bitcoin choose its trend direction.
Overall, Krüger is optimistic about the future of BTC and believes that the current market rally is just the beginning. He predicts that by the end of 2023, inflation will start falling more than expected and that the year will end on a “happy note.”
Krüger shared his thoughts with his followers on Twitter, and the source of this information is Krüger himself.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
