I suppose this makes me bullish still.
(yellow line is technical target for a Head and Shoulders we would be forming)
As much as I want, and am prepared, (and hoping) for another cascading liquidation to get some delicious prices - the stage that is set is not one for that, it's a stage for a turnaround. There just isn't a huge group of motivated sellers left who will all sell at once (unless provoked/forced). I'm currently feeling a "darkest before dawn" moment and, as shown, I think the catalyst is new year institutional allocations to BTC that are green lighted come 1 January... the price will be attractive compared to recent highs, and there'll be a month since a major market shock.
Alas BTC may yet again surprise us all, and that right soon. Quiet BTC markets are ominous and seem to produce large candles out of nowhere...
I'm glued to however this comes out - but this is full disclosure on my bias. Wherever BTC is at the close of the year I anticipate a very green first week, at least.
Interested to hear your thoughts, especially if you disagree!
(yellow line is technical target for a Head and Shoulders we would be forming)
As much as I want, and am prepared, (and hoping) for another cascading liquidation to get some delicious prices - the stage that is set is not one for that, it's a stage for a turnaround. There just isn't a huge group of motivated sellers left who will all sell at once (unless provoked/forced). I'm currently feeling a "darkest before dawn" moment and, as shown, I think the catalyst is new year institutional allocations to BTC that are green lighted come 1 January... the price will be attractive compared to recent highs, and there'll be a month since a major market shock.
Alas BTC may yet again surprise us all, and that right soon. Quiet BTC markets are ominous and seem to produce large candles out of nowhere...
I'm glued to however this comes out - but this is full disclosure on my bias. Wherever BTC is at the close of the year I anticipate a very green first week, at least.
Interested to hear your thoughts, especially if you disagree!
