The past 60 days of upward movement is a corrective movement. This means the larger trend is still down. The upward price channel appears to have just broken.
All the price action of the last 2 months has been chaotic and messy, and those are the hallmark traits of a correction. These behaviors are driven by people all switching seats and changing their minds and then when you exit the correction, the market bias can change.
SO FAR, the bias has still held up positively. This is the lens through which we see the market. I am a bear, make no mistake so I must acknowledge that I am looking at this thing from a -90 degree angle, while some of you might be looking at this from a +90 or +45 degree. You get my meaning. That being said I find that if you can find what angle you view things from, you can adjust your lenses to help you see down the 0 line, representing objective truth. This is truth separated from the bias, subjective individual experience. We try to get as close as we can to this as it helps you make accurate predictions.
It may not seem like this to many, but the overwhelming opinion has been that crypto will survive and thrive and find a way. Which is true, but a sign of complacency as well. The legislative news is just red tape and regulations. These slow down innovation and production. The point of these things is to slow crypto down so the government can figure out how to control it or ban it.
Also, if you think the stock market is fine, buckle up. Rates going up and the Fed not buying bonds already sent Treasury Yields spiking within a week or two... The thing's a ticking time bomb and the fuse is lit.
*Not financial advice. Just what I see.
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And....look at that, I was right. Hell yeah. Bitcoin to the floor Brah
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Bears maintain control as long as we stay below 45,000
We will see. BTC looks bullish right now. Obviously the stock market has been bullish the last few weeks so crypto is usually bullish when the stock market is.
bed87
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Finally nice to see a firm warning on this site rather than a bunch of unjustified HYPE! Not another 60k+ post. Cheers.
MonetaryRebel
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@bed87, For sure. I love crypto but it's the Tech Bubble 2.0 right now. I personally don't want to buy until the Regulatory hammer comes down and we see how the chips fall. Then once we know which players will stay intact, you go all in.
we both warned folks at the top, yet few listened. great insight mate youve been spot on
MonetaryRebel
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@largepetrol, Hell yeah. SNIPED!!! More people should listen to us honestly. Thank you! Looking for that last scary as hell drop before we start loading up.