A 2022 NY Resolution for Bitcoin Followers

TL;DR

Bitcoin price action is better analyzed using BTC-JPY instead of BTC-USD due to more reliable round level intervals.

Transcript

oh it's new year's market's closed i'm going to bed oh crypto okay so i mentioned in my video with jim bianco and ash about 600 times before that as well how looking at bdc jpy instead of bdc usd can be of particularly useful help for bdc spot in the immediate term to shorter midterm price action bdc spot tends to bounce off or charge through resis... Read More

Key Insights

• 🛝 BTC-JPY round level intervals of 5 million, 5.5 million, and 6 million yen are crucial for Bitcoin spot price analysis.
• 🛀 Bitcoin's recent price action showed support and resistance at these round level intervals on Real Vision Exchange.
• 🌐 By defaulting to BTC-JPY analysis, individuals gain a more global perspective on Bitcoin's value beyond USD.
• 💐 Price fluctuations based on 5.5 million, 5.4 million, and 5.3 million yen levels display systematic flows rather than individual actions.
• 🌐 Analyzing Bitcoin in BTC-JPY helps individuals understand the global nature of the asset and its valuation beyond USD.
• 🌐 Shifting focus to BTC-JPY analysis can change one's mindset on Bitcoin as a global asset rather than a US-centric one.
• 🎚️ Setting price alerts at round level intervals on BTC-JPY can aid in tracking potential support and resistance levels for Bitcoin.

Questions & Answers

Q: Why is analyzing Bitcoin price using BTC-JPY more beneficial than BTC-USD?

Analyzing Bitcoin price in BTC-JPY gives more accurate round level intervals for support and resistance, providing a clearer picture of price action.

Q: How did BTC-JPY influence Bitcoin's recent 25% drop in value?

Bitcoin's price dropped as BTC-JPY crossed below 6 million support and dipped through 5.5 million and 5 million yen levels, showing the impact of these intervals.

Q: What significance does the mid-point (5.5 million yen) hold in Bitcoin's price analysis?

The mid-point acts as a crucial level where Bitcoin spot price can either break resistance or support, indicating potential price movements.

Q: How can setting default analysis to BTC-JPY change one's perspective on Bitcoin value?

By focusing on BTC-JPY, individuals can shift their mindset to view Bitcoin as a global asset rather than solely an American-dollar denominated asset.

Summary & Key Takeaways

• Bitcoin spot price is influenced by BTC-JPY round level intervals like 5 million, 5.5 million, and 6 million yen.

• Recent price action showed support and resistance at these intervals on Real Vision Exchange.

• By defaulting to BTC-JPY analysis, one can gain a global perspective on Bitcoin's value beyond USD.