Bear Snare

I’ve been cautious all year, up until I saw the 2M chart for BTC. While I could have “sold in May and gone away” and held. Sure, I missed the short term trading op but I haven’t lost the war. The 2M is the last hill I stand on. Historically - post halving - 16 candles are printed to provide the next high. Each consecutive print builds upon the last. “This time is different”. No it’s not. The stochastic hasn’t yet crossed and it still has room to move. 2017, stochastic hummed the upper register for 8 months (!). Further clues can be found from the RSI, which is lazily climbing so as not to give away what’s building underneath. Mt GOX FUD and selling pressure does not negate from the lack of BTC on exchanges and hungry ETFs waiting to scoop up any dumped BTC like a team of humpback whales forcing fish to the surface. I have to admit, this last move had me on the ropes. But after further observation, this was a dirty fake out. With “revised” economic data emerging from the U.S. and a stuttering DXY, the bears may well have been snared.