Price action and volume profiles matching up very well. I'm expecting next couple of weeks to give us phenomenal volume.
I'm seeing a lot of mixed feelings in the market. The inverse head and shoulders people calling that the bottom is in, and the naysayers saying too many people are bullish. Here's the thing: the dumb money will win sometimes, so to counter-trade crypto twitter shills is not always the best option.
Smart money is still considering shorting here, and expecting further down. How can you blame them? We've been in a nasty bear market making lower highs for 12 months.. There is massive market confusion here, from everyone - the bulls, the bears, the smart money, and the dumb money. So where should we go? Usually when there is market confusion, you need to look at the MOVING AVERAGES! Higher time frame moving averages are much higher than current price, which is a good enough reason for me to be looking at longs in this range.
Bears are right - we need lower prices. Especially if people like bitcoin-fund-manager are still around. Especially if people are still investing in bullshit like TRON, EOS, and Chainlink. However, bears have been winning too easily for far too long. This is Bitcoin after all.
REMEMBER: Bitcoin has historically made bears sweat WAY more than the bulls. Being a temporary bull is not a bad choice, even if the trend has been down all year. The wise choice would be to find the price where bears turn to bulls, then short the market again and relax for 8 months.
Happy trading!
gm
I'm seeing a lot of mixed feelings in the market. The inverse head and shoulders people calling that the bottom is in, and the naysayers saying too many people are bullish. Here's the thing: the dumb money will win sometimes, so to counter-trade crypto twitter shills is not always the best option.
Smart money is still considering shorting here, and expecting further down. How can you blame them? We've been in a nasty bear market making lower highs for 12 months.. There is massive market confusion here, from everyone - the bulls, the bears, the smart money, and the dumb money. So where should we go? Usually when there is market confusion, you need to look at the MOVING AVERAGES! Higher time frame moving averages are much higher than current price, which is a good enough reason for me to be looking at longs in this range.
Bears are right - we need lower prices. Especially if people like bitcoin-fund-manager are still around. Especially if people are still investing in bullshit like TRON, EOS, and Chainlink. However, bears have been winning too easily for far too long. This is Bitcoin after all.
REMEMBER: Bitcoin has historically made bears sweat WAY more than the bulls. Being a temporary bull is not a bad choice, even if the trend has been down all year. The wise choice would be to find the price where bears turn to bulls, then short the market again and relax for 8 months.
Happy trading!
gm