A bullish case for ANKR & crypto markets.
In the recent week, it was noticed that the public had turned a bit to bearish on the crypto markets in a small amount of time. The public’s emotion was majority bearish, basically stating “Time to pack it up, it’s over. I’ll wait for capitulation to buy back in” type of comments. Shorts were demonstrating complacency type of behavior, with some ego as well. Price action has been reminding me of August/September 2020. With more participants joining in the fun, price structures tend to expand….allowing the maker to handle the business of supply/demand/inventory. If you remember at the top the public was waiting for the euphoria wick…..it never appeared on BTC /USD. Will the public get their capitulation to buy back in? Time will tell.
I wouldn’t go as far to say crypto is out of woods….just follow price action and make a plan. Cheers!
Disclosure: I am long ANKR (spot) currently.
In the recent week, it was noticed that the public had turned a bit to bearish on the crypto markets in a small amount of time. The public’s emotion was majority bearish, basically stating “Time to pack it up, it’s over. I’ll wait for capitulation to buy back in” type of comments. Shorts were demonstrating complacency type of behavior, with some ego as well. Price action has been reminding me of August/September 2020. With more participants joining in the fun, price structures tend to expand….allowing the maker to handle the business of supply/demand/inventory. If you remember at the top the public was waiting for the euphoria wick…..it never appeared on BTC /USD. Will the public get their capitulation to buy back in? Time will tell.
I wouldn’t go as far to say crypto is out of woods….just follow price action and make a plan. Cheers!
Disclosure: I am long ANKR (spot) currently.
Comment:
Trimming overall position by 80%. Hope this helped peeps out.
Comment:
Reestablished a full position for a trade into the new year :)