Attached is the one-day chart of BTCagainst USD, at a point price of $38,687. In our last commentary, we revealed the possibility of a break of the $42,000 support and that if so, this could set us on course for a major correction. This occurred and is complemented by last Friday’s downward crossover of the 50-period exponential moving averages with the 200-period moving average. The last time this happened was also on the 14th day, that time in June 2021. The accommodation, on that occasion, took 3 months, from which time we all remember how the price reached new ATH (All-Time Highs), spectacularly. This time the difference is that we are moved by two fundamental factors, which directly (Kazakhstan) and indirectly (lack of decision by the FED) affect BTC, for a sort of “double whammy”, as our chief economic analyst, Dr. Rafael Del Carpio, often reminds us. Fibonacci points us to the 0.786 level of $29.715, as a possible technical low, although the solution of the fundamentals will be the ones to give us the new starting flag. We will keep you updated on further developments.
Chart – BTC Projection (01-21-2022)