• Written by: John Kaczur
• Mon, 24 Jan 2022
•   Russian Federation

Things just keep getting rougher and rougher in the crypto market. But if the infamous Bitcoin analyst PlanB can find some humor in all of this, so can we. Next level candle painting pic.twitter.com/j9AheptGOg — PlanB (@100trillionUSD) January 24, 2022 PlanB, the Bitcoin analyst famous for his Stock-To-Flow model, tweeted out a fake chart with […] The post PlanB Back On Track Thanks To McDonald’s Candle appeared first on CryptosRus.

PlanB Back On Track Thanks To McDonald’s Candle

Things just keep getting rougher and rougher in the crypto market. But if the infamous Bitcoin analyst PlanB can find some humor in all of this, so can we.

Next level candle painting pic.twitter.com/j9AheptGOg

— PlanB (@100trillionUSD) January 24, 2022

PlanB, the Bitcoin analyst famous for his Stock-To-Flow model, tweeted out a fake chart with all yellow candles designed to look just like the fabled golden arches of the beloved fast food chain McDonald’s. 

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• Those yellow candles PlanB tweeted out appear to resemble a double top which usually means a significant slide is likely to continue.
• Though, this chart is likely more to appease the McDonald’s crypto meme  — see Nayib Bukele — than actual analysis. PlanB is currently running a poll asking when BTC will return to 69k and three of the options are within a year. 
• As of press time, 31% say BTC returns to that level within 3 months. 
• Many believed that the market had doubled topped back after April with the Coinbase all-time high. However, that was ultimately invalidated as well. Some cursory research reveals a triple top is also a thing that astrology for men technical analysis follows. Check back for updates for when that becomes invalidated.
• PlanB’s claim to fame is the aforementioned stock-to-flow model. It’s based on how Gold’s value is predictable by evaluating current stock against new production. It was oddly fitting for a digital coin like Bitcoin because of its inflationary nature. For a time it was very predictive but has since been invalidated. 
• The market dump appears to show no signs of letting up. This, despite many bullish signs like the world’s biggest investment firm filing for a blockchain ETF. However, there are some reasons for optimism with the upcoming rate hike announcement. That is, if it’s all priced in by now.

The post PlanB Back On Track Thanks To McDonald’s Candle appeared first on CryptosRus.