BTCUSDT Analysis by bravosresearch

The video provides a fundamental analysis of Bitcoin, relating its price action to the US economic cycles. It points out instances in Bitcoin's history where its price increased during cyclical economic recoveries, indicating a positive correlation between Bitcoin and the economic health of the US. The analysis relies on the ISM Purchasing Managers Index (PMI) as an indicator of economic activity, observing that increases in the PMI correlate with strong periods for Bitcoin. The video notes that since 2021, the PMI has decreased, which aligns with Bitcoin's less impressive performance in the same time. It suggests that a potential upturn in the PMI could lead to similar strong rallies in Bitcoin, targeting previous peaks around $82,812. It establishes a failure price of $20,000.