I know many are bullish, but I like to approach all FOMOs with caution. As much as I would love to see BTC go up in value, I do believe the worst of it has not come yet. Having been in a Wyckoff accumulation, I believe we have yet to see the spring. I do foresee one last bullrun before the economy collapses, but I also see the crypto market tanking as a whole one last time. Typically there is always one last dump, (the spring) in which a new low is hit. I believe around 25-20k for BTC. As to why? RSI indicates BTC is overbought. This hints towards a reduction in price to stabilize. Although the MACD looks like a bullish move is inbound, the buy signal has not been given yet. We are still in a descending triangle pattern after all and it is unlikely to breakout with such high RSI already. Just my take, not financial advice. I am not shorting, just waiting for the spring before picking more up. Your thoughts?
That 29-42k move seems like a pretty convincing spring to me. I am like you though, would like to see one more move lower but, first the bitcoin conference and now Ethereum may be driving the next markup phase, even though it would have been better had btc gone into the mid-20s first.