The Bitcoin Meteorite and MSTR falling knifeThe US Trading session just ended and handed Asia a Bitcoin Meteorite. If there's one thing Asia hates - it's fake pumps...and that's all today was on BTC. We'll be lucky if BTC is over $90k when the US market opens tomorrow on 12/4.
Asian session behavior is predictable:
They love to liquidate overleveraged U.S. breakout traders
They fade fake pumps
They push price back toward equilibrium
At the very least we pull back to $92, and while I think $91k is more likely and even $90 isn't out of the question. The other concern is all the benevolent articles coming out about BTC. Larry Fink said bitcoin is the new bellbottoms...or whatever. When they flood the market with bogus 'opinion' pieces, these people only speak because they want to influence retail traders. You really think the CEO of black rock wants to drive the price of BTC UP before they expand their holdings... If they're talking about something...they're selling you a bridge. I think BTC and it's biggest holding company MSTR (which managed to buy only 130 Bitcoins this cycle (BWHAHAHA) is going to crash even harder than it has been. $1.4B in cash reserves to fund $773+ Million in annual dividends while diluting shares is a recipe for bankruptcy and a $.01 share price...
Shorting BTC and MSTR all week long and twice on Sunday.
