#Bitcoin weekly RSI is at the same level as it was during the March'20 crash.

Two possibilities:

1) Reversal
2) Crash to test the lower bound of the channel or even lower, as most of the crashes are preceded by oversold readings.

As of now, 2 has a higher probability.

More from Mayank Narula

#Nifty

So now that Nifty has undergone ABC correction in the expected manner, what to expect next?

I think we have started larger degree wave 3, once 16800 was crossed.

16800 is the reference level now. We will get more sense by end of next week/ month. https://t.co/KsziuUpZxU


#NIFTY

If 17445 is taken out, then may be we are heading to fresh new all time on Nifty.

Things may pan out way faster than expected.


#NIFTY

Zoomed in cross-section of the chart above.

Wave 3 of 1 should have started today, which can take Nifty to fresh all time highs.


#NIFTY

So now Nifty is moving more clearly on the expected path, what's next?

Nifty has started longer term wave 3 advancement, pending final confirmation of HH by crossing 17800.

In Wave 1 of 3, can expect a move to 20k+.


In terms of longer term wave structure:

Wave 1: 7500 to 18600
Wave 3: 15700 to 35000+

And this can pan out over next 2 years or so.

Since wave 2 was a shallow correction, wave 4 can potentially be a deeper correction.
#Ethereum

CMP: 1006

Will be a buyer under 500

More from Bitcoin

The is no Devcoin Gold yet. But then again, we've never been one to "peg" to anything. I came across an interesting article about 'recreating' addresses with Bgold that @bitcoincoreorg cut out since 0.13.0 - perhaps one day we can do a similar thing in future Devcoin software :)


https://t.co/cv4UqsaVAK

That being said I hold some Doge @blockio in an "A-" address myself after 0. 1. "9-" versions :). Don't believe Bitcoin Core the Coin (Utility) is the only visible value on Core chain. Color me crazy. I believe in script. And FOSS that is used to export📜


And that's just a guy @MeniRosenfeld who put his identity and ideas out in the public to build a Web of Trust back when the web was much less of a safe place. His identity at stake and the implementation of a branch in source code by another unsung hero @killerstorm reveals value

Some of those who set up our bright future quietly implemented it in a branch on the main source code before it was officially the Bitcoin Core main repository, before a "Bitcoin Core" entity existed

Just because Bitcoin Core nodes dominate and do not read "smart" colored satoshis or display them, doesn't mean they do not exist on chain. The example of recreating P2WSH-over-P2SH address from BTC https://t.co/ZWSP2MO5bY wallets in Bitcoin Core Gold I shared proves -rescan's $
Ok, so what is the significance of the @lagarde statement on bitcoin?

We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.

https://t.co/1LTzrxHbgs 1/32


'It is a speculative asset, by any account. If you look at the price movements... '

It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.

So we are in the classic central bank frame 2/32

'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'

Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32

The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32

ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32
1/ If, like me, you've been looking at #Bitcoin over the last few years with interest, but you have never really decided which side of the fence you sit on, this thread might be good for you.

This isn't another opinion piece on #Bitcoin , in-fact, it's exactly the opposite. 👇🏼

This thread is a list of resources I have found to be useful and insightful when it comes to understanding the pros and cons of #Bitcoin .

Below, you'll find knowledgeable people 👩🏽‍💻, articles/essays 📝, podcasts 🎧 and videos 📹 about #Bitcoin . Enjoy!

/2 People 👩🏽‍💻

These individuals are valuable to listen to, whilst they are bullish, they justify their stance:

@RaoulGMI
@michael_saylor
@DTAPCAP
@APompliano
@VentureCoinist
@AlexSaundersAU
@danheld
@aantonop
@jchervinsky
@real_vijay
@lawmaster
@LynAldenContact

/3 Resources 🏢

A video library of interviews from various Bitcoin enthusiasts. 👇🏼

https://t.co/CJJvHavSOn

A great guide for new investors to Bitcoin. 👇🏼

https://t.co/fOoSfTlWr5

A portal for people to go from zero knowledge to intermediate level.

/4 Tweet threads 🐦

A great thread on rebuttals from common #Bitcoin queries/criticisms. 👇🏼

https://t.co/tPEpFMMPhH

Why companies are starting to put BTC on the balance sheet. 👇🏼

https://t.co/lL71M1A3NF

“A double-spend broke Bitcoin" debunked.

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