Good afternoon, Alkalites! Bitcoin seems to be recovering again, forming a technical "W" pattern. Remember that we rarely believe in technical analysis, but the less institutional money is on the table, the more reliable the technicals are.
The fear and greed index is currently at the fear level, but the spread of FUD seems to have already stopped.
Bitcoin is trading around the $38k area. If it holds this level for a few more days, we will look for opportunities to increase our exposure to the market again.
Also, the Altcoins market is getting ready to pump alongside our Big Boys, so we'll watch it closely.
Whales volume remains low as they are likely expecting to see good news from cryptocurrency holding companies like MicroStrategy. The FUD has already stopped, but what about the good news? Let's see if the retail pressure is enough to get the big buyers back on track.
Be patient. Has your exposure increased during this dip?
The fear and greed index is currently at the fear level, but the spread of FUD seems to have already stopped.
Bitcoin is trading around the $38k area. If it holds this level for a few more days, we will look for opportunities to increase our exposure to the market again.
Also, the Altcoins market is getting ready to pump alongside our Big Boys, so we'll watch it closely.
Whales volume remains low as they are likely expecting to see good news from cryptocurrency holding companies like MicroStrategy. The FUD has already stopped, but what about the good news? Let's see if the retail pressure is enough to get the big buyers back on track.
Be patient. Has your exposure increased during this dip?