Overcast

Overcast Updated 

Green vertical lines indicate approximate halving dates. Red stars indicate market peaks. Red arrows mark approximate location that price broke down below 50 weekly moving average. Green arrows mark approximate location price breaks above 50 weekly moving average. During the last bear cycle, 14 months elapsed between the initial breakdown below the 50 wma, and the...

Overcast Updated 

Short term analysis. Sloppy Elliot wave structure has formed. Market seems fairly exhausted... but I am not fully convinced that we have hit the bottom yet. Many people, including myself, are still looking for a ‘capitulation’ event to unfold. I believe the current setup is favorable for such an event to happen. Thus far, bitcoin has found support right above 3k,...

Overcast

Lot of shorts piling in. Watching for a short squeeze next few weeks.