Tpc With Naeem Al-obaidi

Bitcoin broke the $7,500 resistance level as equity markets trade sideways. Let’s take a step back, and look at a rational perspective, using newly released on-chain metrics showing a contradiction. After topping out around $7,500 in early April, Bitcoin can not decide where to go as it has been trading sideways for the last 3 weeks. This has caused frustration between those who want long term entries, and those trading the trend, as it has kept both on their heels with unpredictability. The truth is, not much has changed since the start of the month, and the $6,500 to $7,500 range stands true. I believe a big reason for this is the growing uncertainty of equity markets due to the global lockdowns that are still in place. With equities consistently rising since the drop, the big elephant in the room is ‘why?’. You can expect more volatility in the next two weeks as more companies announce earnings. Gold has also been in a standstill after breaking the major resistance above $1,700. We will be waiting to see t