Bitcoin: McGlone's Glory Days Claim Draws Fire
Bitcoin at $85987.65 as Mike McGlone's sub-$50k calls and lose-lose thesis face backlash from traders citing liquidity-driven 2021 rally.
SourceAnalysis
Bitcoin Archive called out Bloomberg's Mike McGlone for claiming the asset's glory days are over and that it faces a lose-lose scenario versus stocks, pinning the 2021 rally solely on liquidity while he has spent the year forecasting sub-$50k levels.
With BTC price at $85987.65 testing upper Bollinger resistance at $85163.47 while RSI(14) at 85.61 flashes overbought, a healthy retracement to the 50-EMA support at $79855.69 looks probable before further continuation as the MACD golden cross at 1640.03 holds firm above the 200-EMA at $75847.2.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.
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