Serious lack of fundamentals today so let’s keep the focus on BTC. It’s good to see Bitmex CEO is aligned with my views of this market and the potential bull-trap we witnessed earlier this week. It’s funny how the positivity & memes have died down across social media again as Bitcoin took a hit from $7,700 in rapid succession of reaching this zone, which tells me the forces pulling the market strings have achieved their goal once again.
With price falling just short of $7,800 .. I feel there’s room for that final push higher as the momentum to the upside remains but inevitably all eyes are still sub $6,000’s for me.
It’s always uneasy to see the possibilities of such a drop when the market is posting bullish price action & fundamentals, but the same can be said for when BTC was at 20K and everybody and their nan was screaming “100K next!!”
Because optimism & hope is one hell of a natural drug When I look at crypto I understand what comes with this market is extreme volatility short-term before longer term targets are achieved as whales treat BTC as a video game for their own profits and amusement, this is likely why there is a lot of criticism as BTC swings several 100’s to 1000’s of Dollars before targets are achieved, this is simply part of the cycle & must be embraced.....
They do this to mess your emotions up and depend on intra-day movements instead of the bigger picture. So for me..... Regardless if we spike higher, I’m BEARISH on breaking $6,000 until we see clear confirmation this market is reversing higher And if we suddenly break out and a bull run occurs? I have have been scooping up these low prices like no tomorrow, so we win regardless. Fortune favours the bold