I think we are going to see a bunch of mini pumps but monthly MACD is very bearish, probably another 8-16 months before it bottoms. Daily also got bull trapped above the 50/100MA. Bear market signs. You can see the footprints of massive volume selling this cycle (55-69K distribution zones). Remember if you have 100 million, a 2X is amazing. As wealthier traders invest into BTC the diamond hands and degen narrative will not effect price action as much....many people swinging big dick profiles are perfectly fine with selling after 25, 50, 100% gains....Would mirror previous cycles, this time is not different.
Note
If we pump to 50K I still stand by this analysis. I have short term plays also, this is just to archive thoughts to look back on from a longer term perspective.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.