Chart – BTC Projection (01-19-2022)

Attached is the 4-hour chart of BTC against USD, at a point price of $42,134 (own elaboration in Tradingview). In it, we can observe how respectfully the market heeds the call not to breach the $42,000 support and, at the same time, how highly technical this market is. Relative strength indices and MacD in attack position, with important resistances at $48,000 and $50,000 (psychological). Fundamentally, President Erdogan of Turkey sends a cryptocurrency bill to the Senate and summons Bukele for advice. He does so, in times of hyperinflation of the Lira, under the clear objective of converting them to digital currencies, in a speculative act. Also, the law would help the people to expeditiously convert the remittances they receive from the rest of Europe. Seen in this light, this represents an act of economic “humility” on the part of the Turkish government, although we are not convinced if speculation is their best way out in times of economic crisis; we hope it works for them. We will keep you updated on further developments.