For anyone out there wondering what the Bitcoin market is doing, ask yourself these questions:
- am I ignoring what the charts are actually saying?
- has bitcoin been going parabolic for weeks with no healthy pullbacks
- does the price look like it is climbing or warm, rather than stairstepping up?
- is there a parabola?
- what is bitcoin‘s volume doing?
- is price climbing but trading volume is fading?
- are there early death crosses?
- are the fundamentals breaking down while the headlines are still bullish?
- what is on-chain data telling us?
- what are exchange flows showing?
- what is happening with new active wallets?
- are either the experts or the “crowd” getting louder?
- is there retail euphoria?
No doubt a huge amount of negativity has seeped into people's minds... Are you a bear? Or is there some bulls still out there? Remember: night is darkest just before the dawn...
My take: we're still in a bull run, and this is a fairly usual pull back, before stepping up to the next range
Position accordingly