We need to be patient

9 déc. 2021Morning folks,

This time we do not discuss any clear trading setups, as we do not have any of them yet. But what we see interesting right now is comparison of May collapse and the recent one. First is, we expect some similarity on how market should react and behave on it. Last time it was flat consolidation before BTC has shown real thrusting action and breaks the consolidation up. The same thing we expect to see now. But first market has to confirm the lows by multiple testing of them.

The reason why we need it - different background of collapse. Last time it was single factor - banning of the mining in China. This time we have more serious and time extended pattern - Fed policy. And currently it is not definite yet that lows are set already. In nearest time we expect wide BTC fluctuation and re-testing of previous lows. Thus, we do not consider any long positions by far. Be patient...