I will be a buyer under 13800 levels, but depending upon the reversal on smaller timeframe.
#BITCOIN
— Mayank Narula (@Mayank_Narula1) March 5, 2022
Pending RSI divergence on monthly chart which requires a dip under 13805 to get resolved.
But monthly RSI divergences can go on for years before the resolution.
Best case scenario will be panic dump over next few months. pic.twitter.com/hi67hMg9sZ
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.
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

I am no expert in Wave Theory, but can this be a possible path over next few weeks/months?
— Mayank Narula (@Mayank_Narula1) December 6, 2021
Views requested. @idineshptl @indiacharts @nishkumar1977 pic.twitter.com/u3DjEeqoqB
#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.

More from Bitcoin
1/ #Bitcoin FUD-busting time!
claim: bitcoin ownership is heavily concentrated.
@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣
truth: the facts, my friends, simple don't line up. let's dive in!
2/ interrogating on-chain addresses is tricky.
address =/ account.
one person can control multiple addresses.
one address can hold bitcoin belonging to multiple ppl.
exchanges and trading firms will have addresses with large balances that represent client funds.
3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January
the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.
full piece here:
https://t.co/n5IdIQdNoA
4/ 31% of BTC is held in addresses not identified as exchange wallets.
these are likely institutions, funds, custodians, and OTC desks.
our analysis at @CoinSharesCo indicates >15% of all bitcoin is held in third party custody, including @coinbase and our own @KomainuCustody
5/ in fact, between asset managers @Grayscale ($36B in BTC) and our @xbtprovider ($4B in BTC), 4% of bitcoin is locked up by fund providers and asset managers!
our @CoinSharesCo research team publishes an EXCELLENT weekly report on fund flows and AUMs -
claim: bitcoin ownership is heavily concentrated.
@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣
truth: the facts, my friends, simple don't line up. let's dive in!
2/ interrogating on-chain addresses is tricky.
address =/ account.
one person can control multiple addresses.
one address can hold bitcoin belonging to multiple ppl.
exchanges and trading firms will have addresses with large balances that represent client funds.
3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January
the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.
full piece here:
https://t.co/n5IdIQdNoA

4/ 31% of BTC is held in addresses not identified as exchange wallets.
these are likely institutions, funds, custodians, and OTC desks.
our analysis at @CoinSharesCo indicates >15% of all bitcoin is held in third party custody, including @coinbase and our own @KomainuCustody
5/ in fact, between asset managers @Grayscale ($36B in BTC) and our @xbtprovider ($4B in BTC), 4% of bitcoin is locked up by fund providers and asset managers!
our @CoinSharesCo research team publishes an EXCELLENT weekly report on fund flows and AUMs -
Another #FreeLoveFriday. So far, I’ve covered Bitcoin, Mastercoin/Omni, and last week ChainLink and the importance of decentralized oracles. Today, let’s talk about one of the most fascinating projects in crypto - @MakerDAO
In my thread about Mastercoin, I briefly touched on the vital role fiat-backed stablecoins play in crypto markets, but there’s a catch with them:
The counterparty risk of a third-party holding fiat in reserves.
Enter MakerDAO, which set out to create a decentralized, collateral-backed cryptocurrency, DAI, that would be “soft-pegged” to the U.S. Dollar using the power of algorithms. In crypto tradition, its supporters said trust game theory, not operators.
In 2017, MakerDAO published a whitepaper describing a system where anyone could create DAI by leveraging ETH as collateral to create Collateralized Debt Positions. Essentially, you take out a digital USD loan against your crypto.
The game theory of the system is structured such that DAI issuance is controlled to keep the price pegged to $1.00. In essence, it buffers the fluctuations of the underlying collateral to create a synthetic dollar bill.
Back with another #FreeLoveFriday. Last time, we covered how Mastercoin/@Omni_Layer pioneered digital asset issuance on blockchains. Today, let\u2019s discuss @Chainlink and the vital role it plays in connecting blockchains to the real world. https://t.co/0poYIBtGrt
— Emin G\xfcn Sirer (@el33th4xor) January 22, 2021
In my thread about Mastercoin, I briefly touched on the vital role fiat-backed stablecoins play in crypto markets, but there’s a catch with them:
The counterparty risk of a third-party holding fiat in reserves.
Enter MakerDAO, which set out to create a decentralized, collateral-backed cryptocurrency, DAI, that would be “soft-pegged” to the U.S. Dollar using the power of algorithms. In crypto tradition, its supporters said trust game theory, not operators.
In 2017, MakerDAO published a whitepaper describing a system where anyone could create DAI by leveraging ETH as collateral to create Collateralized Debt Positions. Essentially, you take out a digital USD loan against your crypto.
The game theory of the system is structured such that DAI issuance is controlled to keep the price pegged to $1.00. In essence, it buffers the fluctuations of the underlying collateral to create a synthetic dollar bill.