BTC - Has it Really Bottomed?
Seems the conventional wisdom has assumed BTC has bottomed. The prevailing thought is gauging...how high is it going?
I have a suspicion there is one more surprise ahead of us. This is strictly and solely based on my TA.... Nothing fundamental about it....
What has bothered me about the November '22 low is the structure did not resemble a climactic bottoming structure.
Do you always need that? Not necessarily but it's more likely you get that, than the whimper last November's action resembled.
There are converging forces across markets that could propel a move to new lows here. Not to mention the always possible black swan.
Here is my suspicion. I've not taken a position yet....but my finger is on the preverbal trigger.
I have a suspicion there is one more surprise ahead of us. This is strictly and solely based on my TA.... Nothing fundamental about it....
What has bothered me about the November '22 low is the structure did not resemble a climactic bottoming structure.
Do you always need that? Not necessarily but it's more likely you get that, than the whimper last November's action resembled.
There are converging forces across markets that could propel a move to new lows here. Not to mention the always possible black swan.
Here is my suspicion. I've not taken a position yet....but my finger is on the preverbal trigger.
Commentaire:
I believe this pattern is now or close to completing... I continue to look for a new low.
