My BTC sentiment for the midterm is bearish, and these are the reasons why:
- The Short-Term-Holder realized price is $46.4k, meaning that they've been underwater for quite sometime. Therefore with every day day that the price doesn't rise they are more likely to sell.
- The positive news around BTC (like Russians and Ukrainians changing their money into BTC or the executive order to regulate cyryptomarkets) that we've had in the past days only managed to make a small impulse to the upside and it was soon reverted.
In this way I see the following scenarios to start a bull cycle:
- A capitulation event started by Short-Term-Holders that brings the price down to a level where it is attractive for big investors to come onboard.
- An incredible good news that can trigger a good buying volume from the current levels, involving retailer and big investors.
- The Short-Term-Holder realized price is $46.4k, meaning that they've been underwater for quite sometime. Therefore with every day day that the price doesn't rise they are more likely to sell.
- The positive news around BTC (like Russians and Ukrainians changing their money into BTC or the executive order to regulate cyryptomarkets) that we've had in the past days only managed to make a small impulse to the upside and it was soon reverted.
In this way I see the following scenarios to start a bull cycle:
- A capitulation event started by Short-Term-Holders that brings the price down to a level where it is attractive for big investors to come onboard.
- An incredible good news that can trigger a good buying volume from the current levels, involving retailer and big investors.
Order cancelled:
Since the triangle was Brocken to the upside, this idea is not valid anymore and now we are on a bullish trend.