IvanLabrie
Long

#BTCUSD: Bullish until the end of November...

I suspect we are seeing a failure in the bearish signal we had recently, and yet another bullish trend in the weekly timeframe here. The M2 adjusted chart is highly interesting as it predicts we may see prices break the 2019 top briefly, I fear this might lead to an extreme in bullish sentiment a subsequent market crash towards lows not seen since the COVID bottom.

I remain cautiously bullish , and patiently waiting to short the top when it materializes as per this analysis.
Here's the spot chart for reference: Note this is a bullish idea for now, potentially leading to a major market top by the time it peaks as anticipated.
The commitment of traders report shows that CME short sellers keep increasing their short position, and asset managers buying (over record levels). At some point short sellers are likely to win, as has been the case so far.

Disclaimer: We're long for the time being.

Best of luck!
Cheers,

Ivan Labrie.
Comment:
Comment: For reference, I copied other major market tops with euphoria at the highs.
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Comments

Why would you jinx it?
We were doing so well.
+1 Reply
Thanks for the analysis Ivan, im cautisouly bullish myself towards 14-15k, a dip to retest 12k by 2021 would be extremly bullish long term - and I suspect its the logical play. Wouldnt really be shocked if some kind of narrative pushes us to 20k by 2021, then crashin then crashing swiftly to 12 or 14k per 2012-2013 mini bubble
+1 Reply
IvanLabrie cryptodoge
@cryptodoge, There's a monthly signal in the CME chart, with a target near 30k, but odds of that overpowering the outlook here are slim.
+1 Reply
Can't BTC be BTC and build a long uptrend in its usual post-halving frenzy? What would invalidate your bearish count?
Reply
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