Maximum pain has already been inflicted. Time for BTC to go up.
How much more pain can we inflict?
All the liquidity has been taken from Short Term Holders, there's no sell pressure. Market's had a full healthy reset, while maintaining a bullish structure on the large time frames.
The comparison I've made with May-Oct 2020 is not so much due to PA similarities, but more because I believe both now and then we have a price consolidation before another leg up. We also find similarities with the Bitmex Funding / Premium Index as well as market exhaustion and overall sentiment.
I am very bullish with the current market development and I've been this way for a while now - you can check my previous ideas. I anticipated the dip to 33,000$ as well, which I see as a maximum pain event that didn't change the bullish market structure. Of course, until we score new ATHs, we would never know.
Cheers!
All the liquidity has been taken from Short Term Holders, there's no sell pressure. Market's had a full healthy reset, while maintaining a bullish structure on the large time frames.
The comparison I've made with May-Oct 2020 is not so much due to PA similarities, but more because I believe both now and then we have a price consolidation before another leg up. We also find similarities with the Bitmex Funding / Premium Index as well as market exhaustion and overall sentiment.
I am very bullish with the current market development and I've been this way for a while now - you can check my previous ideas. I anticipated the dip to 33,000$ as well, which I see as a maximum pain event that didn't change the bullish market structure. Of course, until we score new ATHs, we would never know.
Cheers!