When everyone expects something in crypto, it doesn't happen.
Everyone expected $1tril marketcap high - didn't happen.
Everyone expected $10k to break and retest the $11.8 - didn't happen.
Everyone expected consensus to be a mini alt season - didn't happen.
Everyone expected 6th of June to be the reversal as previous months - didn't happen.
What is everyone expecting now? That we retest the upper resistance on the penant as marked by the yellow arrow. My hunch is that it won't happen.
It we fail this retest, we will also create a perfect cup and handle. How about a fakeout bear trap from there with real direction decided right at end of the penant? Just a hunch. Let's see what happens. I'm staying neutral for now as this is clearly no mans land.
Everyone expected $1tril marketcap high - didn't happen.
Everyone expected $10k to break and retest the $11.8 - didn't happen.
Everyone expected consensus to be a mini alt season - didn't happen.
Everyone expected 6th of June to be the reversal as previous months - didn't happen.
What is everyone expecting now? That we retest the upper resistance on the penant as marked by the yellow arrow. My hunch is that it won't happen.
It we fail this retest, we will also create a perfect cup and handle. How about a fakeout bear trap from there with real direction decided right at end of the penant? Just a hunch. Let's see what happens. I'm staying neutral for now as this is clearly no mans land.
Comment:
I should also add that this rally has been weak af. Not like the previous two on 6th Feb and 12th April.