Warning, this captures my current mood, it is not a trading idea in any way shape or form! I am trying to be very honest with myself about my own sentiment and I need a written record.
This is how I **feel** BTC will perform over the next several months to a year. My view is based on continued high inflation prints which will prompt the fed to raise rates more than expected this year. A lot of investors will panic (kinda like I am right now) and sell, which will drive the price lower. This view is further supported by some evening-star looking candles on the daily / weekly chart, right around the time I am writing this.
At some point I think the selling will stop and things will revert course sharply as the Fed realizes they cannot continue tapering into a debt-based fiat bubble.
This is how I **feel** BTC will perform over the next several months to a year. My view is based on continued high inflation prints which will prompt the fed to raise rates more than expected this year. A lot of investors will panic (kinda like I am right now) and sell, which will drive the price lower. This view is further supported by some evening-star looking candles on the daily / weekly chart, right around the time I am writing this.
At some point I think the selling will stop and things will revert course sharply as the Fed realizes they cannot continue tapering into a debt-based fiat bubble.
Comment:
Another supporting evidence for this medium-term view: RSI divergence. The price made higher-lows (low of May 2021 vs low of Jan 2022), while the RSI has diverged and made lower lows in Jan 2022 vs May 2021.
