In 2022 I posted my theory the BTC longs chart had bubble like tendencies. I was partly correct. I forecast longs would spike and then drop.
They didn't spike. Did drop.
My forecast here was based on the expectation people would close out longs near the low and there'd not be much participating in the rally. That's how things realistically go. Social media will pretend otherwise - but that's what happens. Here, most BTC bulls exited at the low. That's the realities of market pressures.
It's easy to say you'll hold when things are high. Hard to hold when we're dropping 20% in a day and major exchanges look like they're going to go down in a domino effect.
Now I'd venture a forecast the BTC longs will begin to rocket again - anti-correlating with price downtrending.
My forecast here was based on the expectation people would close out longs near the low and there'd not be much participating in the rally. That's how things realistically go. Social media will pretend otherwise - but that's what happens. Here, most BTC bulls exited at the low. That's the realities of market pressures.
It's easy to say you'll hold when things are high. Hard to hold when we're dropping 20% in a day and major exchanges look like they're going to go down in a domino effect.
Now I'd venture a forecast the BTC longs will begin to rocket again - anti-correlating with price downtrending.
Comment:
I want you to remember that. Because people present on social media as if everyone did the opposite, but the real stuff happening in the market isn't what SM makes it out to be.