 Things do not look good at all. Bitcoin continues to trade closer to the $30k trendline, and if you want to believe, despite the bullish news from El Salvador. I do not like the bearish flag pattern that is forming because, if I am not wrong, the potential downside will probably be the same as the length of the pole. That means even the support of $20k can't hold. The pole length is about $30k and you can do the math from there. I have seen people calling for support at $23k but in my opinion, the next level is $20k.  The weekly chart for Bitcoin looks terrible. The last week's candle was horrendously bearish and this week has started in the red. Don't have high hopes for any short-term upside here. However, I pray that my analysis goes down the drain and is proven totally wrong.  The chart that does prove me wrong totally is ETHBTC. While not exactly a cup and handle here but what a nice bounce from 50 DMA and ETHBTC looks ready to break the 0.08 level. Hold your horses though! If BTC is headed to $20k, I am willing to prophesize that a double top will form and ETHBTC will head lower. On the contrary, if by some divine (read *institutional*) intervention, BTC starts another leg up, ETHBTC is all set to target its ATH. **El Salvador** A beautiful country (so the pictures suggest) with a visionary President. The President of this Central American country is ready to make Bitcoin legal tender. He believes it will help the citizens of El Salvador in availing of banking-like services. Maybe he read too many 'Bitcoin fixes this' memes. I do not know how politically stable El Salvador is, or whether it is a tax haven or not. The move has the potential to help El Salvador. > El Salvador is largely a cash economy, where roughly 70% of people do not have bank accounts or credit cards. Remittances, or the money sent home by migrants, account for more than 20% of El Salvadorβs gross domestic product. Incumbent services can charge 10% or more in fees for those international transfers, which can sometimes take days to arrive and that sometimes require a physical pick-up. [Source](https://www.cnbc.com/2021/06/05/el-salvador-becomes-the-first-country-to-adopt-bitcoin-as-legal-tender-.html) Is it bullish for Bitcoin? Best to ignore news like this, no matter what folks on Twitter are saying. Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@karamyog/bitcoin-ethereum-and-el-salvador)
| author | karamyog |
|---|---|
| permlink | bitcoin-ethereum-and-el-salvador |
| category | hive-167922 |
| json_metadata | {"app":"leofinance/0.2","format":"markdown","tags":["india","piotr","proofofbrain","bitcoin","crypto","leofinance"],"canonical_url":"https://leofinance.io/@karamyog/bitcoin-ethereum-and-el-salvador","links":["https://www.cnbc.com/2021/06/05/el-salvador-becomes-the-first-country-to-adopt-bitcoin-as-legal-tender-.html"],"image":["https://i.imgur.com/FxuC5Xk.jpg","https://i.imgur.com/4dWwMMw.jpg","https://i.imgur.com/I2DfJBU.jpg"]} |
| created | 2021-06-08 02:47:30 |
| last_update | 2021-06-08 02:47:30 |
| depth | 0 |
| children | 5 |
| last_payout | 2021-06-15 02:47:30 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 5.088 HBD |
| curator_payout_value | 4.661 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 2,573 |
| author_reputation | 179,145,474,344,534 |
| root_title | "Bitcoin, Ethereum and El Salvador" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 104,200,547 |
| net_rshares | 17,636,201,120,608 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| mangou007 | 0 | 150,925,930 | 5.96% | ||
| good-karma | 0 | 40,529,162,914 | 4.25% | ||
| arcange | 0 | 145,519,742,995 | 2% | ||
| raphaelle | 0 | 1,852,829,576 | 2% | ||
| scaredycatguide | 0 | 44,282,123,915 | 100% | ||
| bert0 | 0 | 525,032,611 | 5.96% | ||
| uwelang | 0 | 1,696,548,809 | 0.2% | ||
| ebargains | 0 | 2,503,862,683 | 10% | ||
| funnyman | 0 | 114,719,451,553 | 6% | ||
| r0nd0n | 0 | 5,050,576,241 | 2.04% | ||
| redes | 0 | 2,003,980,651,576 | 30% | ||
| esteemapp | 0 | 15,546,879,199 | 4.17% | ||
| walterjay | 0 | 2,970,919,233 | 0.35% | ||
| lastminuteman | 0 | 19,974,835,926 | 29.45% | ||
| gbenga | 0 | 5,359,499,890 | 31% | ||
| jagged | 0 | 11,726,440,484 | 15.5% | ||
| jerrybanfield | 0 | 128,157,999,306 | 15.5% | ||
| swelker101 | 0 | 10,370,972,275 | 50% | ||
| improv | 0 | 303,179,515 | 1% | ||
| samminator | 0 | 43,797,313,195 | 31% | ||
| alphacore | 0 | 37,377,478,212 | 3.21% | ||
| whd | 0 | 5,394,496,959 | 10% | ||
| gniksivart | 0 | 78,431,512,869 | 10% | ||
| runicar | 0 | 116,203,827,915 | 9.7% | ||
| eturnerx | 0 | 173,327,495,075 | 4.8% | ||
| felt.buzz | 0 | 2,988,530,907 | 0.35% | ||
| codingdefined | 0 | 30,742,945,760 | 8% | ||
| shebe | 0 | 857,280,394 | 6% | ||
| syedumair | 0 | 4,752,956,760 | 3.1% | ||
| ernick | 0 | 1,065,366,099 | 10% | ||
| valchiz | 0 | 991,365,744 | 15.5% | ||
| pardeepkumar | 0 | 20,234,114,501 | 9.7% | ||
| devcoin | 0 | 600,782,735 | 31% | ||
| crokkon | 0 | 4,165,790,195 | 8% | ||
| carrieallen | 0 | 10,095,791,155 | 9.3% | ||
| sawcraz.art | 0 | 1,145,950,733 | 31% | ||
| amphlux | 0 | 1,224,980,873 | 46% | ||
| fatman | 0 | 8,141,610,706 | 2% | ||
| takeru255 | 0 | 799,179,469 | 31% | ||
| gotgame | 0 | 1,118,091,583 | 31% | ||
| vishalsingh4997 | 0 | 1,111,983,286 | 15.5% | ||
| esteem.app | 0 | 1,053,614,912 | 4.02% | ||
| thetimetravelerz | 0 | 8,274,637,026 | 31% | ||
| flamingirl | 0 | 343,586,987 | 5.96% | ||
| alvinauh | 0 | 8,786,032,451 | 15.5% | ||
| mtl1979 | 0 | 530,595,722 | 15.5% | ||
| ocupation | 0 | 62,229,456,692 | 9.7% | ||
| enjoyinglife | 0 | 4,267,769,796 | 9.7% | ||
| tolustx | 0 | 2,030,285,134 | 15.5% | ||
| fortunex | 0 | 2,768,387,415 | 15.5% | ||
| abitcoinskeptic | 0 | 2,241,816,206 | 25% | ||
| benie111 | 0 | 6,984,165,351 | 31% | ||
| sholly1 | 0 | 1,328,980,226 | 31% | ||
| legoman | 0 | 3,323,914,151 | 31% | ||
| adesojisouljay | 0 | 11,300,176,801 | 15.5% | ||
| gandhibaba | 0 | 13,501,062,046 | 3.1% | ||
| curx | 0 | 42,952,928,690 | 10% | ||
| indianteam | 0 | 632,110,399 | 20% | ||
| wilhb81 | 0 | 51,138,447,151 | 7.75% | ||
| allyson19 | 0 | 2,127,330,669 | 12.4% | ||
| mindtrap | 0 | 34,193,358,291 | 9.7% | ||
| steempampanga | 0 | 1,000,859,996 | 15.5% | ||
| yurilaya | 0 | 1,795,503,700 | 15.5% | ||
| zoniacb | 0 | 1,351,186,567 | 31% | ||
| retinox | 0 | 3,906,901,500 | 15.2% | ||
| peerzadazeeshan | 0 | 8,167,602,248 | 23.25% | ||
| supersoju | 0 | 1,627,360,600 | 100% | ||
| paragism | 0 | 3,186,021,969 | 15.5% | ||
| road2horizon | 0 | 6,273,328,365 | 20% | ||
| sustainablelivin | 0 | 589,151,084 | 5% | ||
| jersteemit | 0 | 1,744,176,108 | 56% | ||
| tresor | 0 | 7,243,814,917 | 5.96% | ||
| yelbosco | 0 | 1,253,990,507 | 100% | ||
| mariusfebruary | 0 | 8,259,956,160 | 15.5% | ||
| stefannikolov | 0 | 2,312,958,415 | 15.5% | ||
| steem.services | 0 | 42,434,939,274 | 10% | ||
| crypto.piotr | 0 | 470,294,671,630 | 31% | ||
| minerthreat | 0 | 14,828,743,342 | 15.5% | ||
| akdx | 0 | 2,442,138,602 | 7.75% | ||
| khiabels | 0 | 1,631,076,212 | 13.95% | ||
| truthtrader | 0 | 572,491,271 | 15.5% | ||
| tysler | 0 | 131,287,489,988 | 29.45% | ||
| solarwarrior | 0 | 588,635,969,807 | 31% | ||
| occhiblu | 0 | 1,772,721,201 | 15% | ||
| haccolong | 0 | 7,841,576,597 | 16.61% | ||
| karamyog | 0 | 191,233,649,376 | 100% | ||
| shortsegments | 0 | 11,308,789,605 | 15.5% | ||
| xves | 0 | 4,786,985,434 | 13% | ||
| cyberspacegod | 0 | 854,156,961 | 31% | ||
| quatro | 0 | 790,044,926 | 12.4% | ||
| indianapatt | 0 | 675,937,947 | 31% | ||
| rakison2 | 0 | 833,171,814 | 15.5% | ||
| deathcross | 0 | 103,108,096,923 | 100% | ||
| london65 | 0 | 1,435,295,485 | 13.95% | ||
| steemitcentral | 0 | 154,204,818,621 | 70% | ||
| osso | 0 | 136,615,968 | 100% | ||
| pboulet | 0 | 729,977,737 | 0.7% | ||
| perazart | 0 | 2,705,223,274 | 31% | ||
| unbiasedwriter | 0 | 130,626,330,792 | 23.25% | ||
| reverseacid | 0 | 5,401,525,278 | 31% | ||
| memeteca | 0 | 778,875,192 | 5.96% | ||
| actnearn | 0 | 1,580,511,742,092 | 100% | ||
| ordinaryamerican | 0 | 1,176,363,043 | 10% | ||
| devann | 0 | 26,617,813,837 | 9.3% | ||
| veronik28dic | 0 | 797,416,571 | 31% | ||
| tinyvoter | 0 | 1,111,677,172 | 10% | ||
| optimizer | 0 | 1,080,666,143 | 10% | ||
| infinite-love | 0 | 654,376,604 | 10% | ||
| edgarare1 | 0 | 911,186,601 | 31% | ||
| jacuzzi | 0 | 683,501,734 | 1.02% | ||
| mintymile | 0 | 1,968,795,793 | 50% | ||
| bearableguy123 | 0 | 516,604,814 | 33.9% | ||
| ctime | 0 | 445,791,747,492 | 5% | ||
| jadung | 0 | 947,724,033 | 15.5% | ||
| help.venezuela | 0 | 45,334,620,680 | 30% | ||
| maitre | 0 | 133,784,154 | 100% | ||
| theithei | 0 | 550,735,276 | 12.4% | ||
| blockchainfo | 0 | 6,087,772,577 | 100% | ||
| contrabourdon | 0 | 2,615,994,322 | 1.02% | ||
| photographercr | 0 | 1,331,059,082 | 0.8% | ||
| bergelmirsenpai | 0 | 804,496,573 | 10% | ||
| kytka | 0 | 72,841,330,446 | 25.75% | ||
| haxxdump | 0 | 117,636,276 | 10% | ||
| abh12345.leo | 0 | 49,571,606 | 1.83% | ||
| leovoter | 0 | 54,427,122 | 2.04% | ||
| onealfa.leo | 0 | 726,748,062 | 2.04% | ||
| empoderat | 0 | 110,830,591,931 | 2.04% | ||
| co2admin | 0 | 2,916,683,380 | 7.6% | ||
| project.hope | 0 | 2,349,880,615,659 | 31% | ||
| botante | 0 | 16,782,152,106 | 6% | ||
| spt-skillup | 0 | 576,799,571,138 | 12% | ||
| dark-queen | 0 | 577,290,090 | 7.75% | ||
| enison1 | 0 | 401,529,286 | 100% | ||
| ilidan | 0 | 551,394,457 | 7.75% | ||
| huaren.news | 0 | 490,909,591,017 | 100% | ||
| simplex-world | 0 | 6,234,087,397 | 28.65% | ||
| ph-fund | 0 | 122,684,092,978 | 31% | ||
| sacrosanct | 0 | 3,249,308,987 | 9.7% | ||
| toni.curation | 0 | 141,703,190 | 4% | ||
| empoderat.leo | 0 | 0 | 2.04% | ||
| apx | 0 | 71,102,302 | 8% | ||
| awah | 0 | 18,750,371,152 | 15.5% | ||
| dapplr | 0 | 2,238,644,796 | 6% | ||
| fengchao | 0 | 9,368,263,248 | 2% | ||
| laruche | 0 | 30,704,800,609 | 0.7% | ||
| creators-voter | 0 | 0 | 1.53% | ||
| bnk | 0 | 7,993,988,016 | 5.96% | ||
| mynima | 0 | 5,722,943,605 | 23.25% | ||
| hive-143869 | 0 | 1,152,463,116 | 0.7% | ||
| defi.campus | 0 | 37,340,050,839 | 50% | ||
| ecency | 0 | 1,435,646,457,744 | 4% | ||
| ph-support | 0 | 4,794,267,415,015 | 31% | ||
| team07 | 0 | 2,135,949,482 | 15.5% | ||
| talktofaith | 0 | 1,802,684,285 | 100% | ||
| ajaycapital | 0 | 3,415,706,999 | 10% | ||
| ecency.stats | 0 | 927,035,833 | 4.02% | ||
| intacto | 0 | 39,031,264,439 | 7% | ||
| dexemolo | 0 | 0 | 100% | ||
| leoschein | 0 | 2,275,386,258 | 100% | ||
| gualteramarelo | 0 | 27,122,075,876 | 100% | ||
| ikaro | 0 | 57,117,588 | 2.04% | ||
| shurbertum | 0 | 0 | 2.04% | ||
| megaleoschein | 0 | 1,439,485,810 | 80% | ||
| dugsix | 0 | 1,682,143,423 | 100% | ||
| abuahmedfx | 0 | 837,563,538 | 100% | ||
| bhealy | 0 | 2,030,571,213 | 100% | ||
| alokkumar121.leo | 0 | 6,013,002,086 | 100% | ||
| generatornation | 0 | 1,013,156,108 | 100% | ||
| darinapogodina | 0 | 1,804,143,837 | 100% | ||
| maurofolco | 0 | 1,681,112,558 | 100% | ||
| onealfa.pob | 0 | 0 | 0.53% | ||
| naymarkha | 0 | 30,869,811 | 3% | ||
| solominer.stake | 0 | 26,899,871,734 | 100% | ||
| solominer.leo | 0 | 17,505,814,302 | 100% |
Thanks for the technical analysis. We can only hope for a reversal and stack sats until then... Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@amphlux/re-karamyog-2nmquq)
| author | amphlux |
|---|---|
| permlink | re-karamyog-2nmquq |
| category | hive-167922 |
| json_metadata | {"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@amphlux/re-karamyog-2nmquq"} |
| created | 2021-06-08 03:02:24 |
| last_update | 2021-06-08 03:02:24 |
| depth | 1 |
| children | 1 |
| last_payout | 2021-06-15 03:02:24 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.030 HBD |
| curator_payout_value | 0.031 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 189 |
| author_reputation | 13,139,239,783,846 |
| root_title | "Bitcoin, Ethereum and El Salvador" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 104,200,741 |
| net_rshares | 185,010,388,452 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| karamyog | 0 | 185,010,388,452 | 100% |
You're welcome. I'm almost outta cash to stack anything here.
| author | karamyog |
|---|---|
| permlink | qud55d |
| category | hive-167922 |
| json_metadata | {"app":"hiveblog/0.1"} |
| created | 2021-06-08 03:17:39 |
| last_update | 2021-06-08 03:17:39 |
| depth | 2 |
| children | 0 |
| last_payout | 2021-06-15 03:17:39 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.032 HBD |
| curator_payout_value | 0.004 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 61 |
| author_reputation | 179,145,474,344,534 |
| root_title | "Bitcoin, Ethereum and El Salvador" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 104,200,967 |
| net_rshares | 188,778,981,646 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| karamyog | 0 | 188,778,981,646 | 100% |
Your content has been **voted** as a part of [Encouragement program](https://ecency.com/ecency/@good-karma/encouragement-program-continues-82eafcd10a299). Keep up the good work! <br><br>Use Ecency daily to boost your growth on platform! <br><br><b>Support Ecency</b><br>[Vote for Proposal](https://hivesigner.com/sign/update-proposal-votes?proposal_ids=%5B141%5D&approve=true)<br>[Delegate HP and earn more](https://ecency.com/hive-125125/@ecency/daily-100-curation-rewards)
| author | ecency |
|---|---|
| permlink | re-202168t25141692z |
| category | hive-167922 |
| json_metadata | {"tags":["ecency"],"app":"ecency/3.0.16-welcome","format":"markdown+html"} |
| created | 2021-06-08 02:51:42 |
| last_update | 2021-06-08 02:51:42 |
| depth | 1 |
| children | 0 |
| last_payout | 2021-06-15 02:51:42 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 474 |
| author_reputation | 549,971,524,037,747 |
| root_title | "Bitcoin, Ethereum and El Salvador" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 104,200,603 |
| net_rshares | 0 |
The charts doesn't look good for BTC at all. 20k seems like a very likely destination. I Hope something good in the week avert the decline The El Salvador news may also be what's keeping it above the 30k mark --- <center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@jersteemit/qudex4)</sub></center>
| author | jersteemit |
|---|---|
| permlink | qudex4 |
| category | hive-167922 |
| json_metadata | {"tags":["proofofbrain"],"app":"proofofbrain/0.1","canonical_url":"https://www.proofofbrain.io/@jersteemit/qudex4"} |
| created | 2021-06-08 06:48:42 |
| last_update | 2021-06-08 06:48:42 |
| depth | 1 |
| children | 1 |
| last_payout | 2021-06-15 06:48:42 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.031 HBD |
| curator_payout_value | 0.032 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 322 |
| author_reputation | 48,056,597,919,092 |
| root_title | "Bitcoin, Ethereum and El Salvador" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 104,203,404 |
| net_rshares | 186,025,426,798 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| karamyog | 0 | 186,025,426,798 | 100% |
I have my doubts on the el Salvador news. I hope the same for btc price as you.
| author | karamyog |
|---|---|
| permlink | qudif7 |
| category | hive-167922 |
| json_metadata | {"app":"hiveblog/0.1"} |
| created | 2021-06-08 08:04:21 |
| last_update | 2021-06-08 08:04:21 |
| depth | 2 |
| children | 0 |
| last_payout | 2021-06-15 08:04:21 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.032 HBD |
| curator_payout_value | 0.007 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 80 |
| author_reputation | 179,145,474,344,534 |
| root_title | "Bitcoin, Ethereum and El Salvador" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 104,204,137 |
| net_rshares | 189,814,721,623 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| karamyog | 0 | 189,814,721,623 | 100% |
hiveblocks