With the house's most recent leverage casino clean-up, I see us forming a bearish rising wedge on the monthly. Yet I must remind myself that this is not an organic pattern and consider what the trend would look like without the Tether printer go brrrrrr.
Previously, I noted a few instances of what many call large exchange accounts, such as Binance, wrecking leverage longs--nearly rejected by the market. This is way, I suspect, the last dump was so extreme and blatant. They overcompensated.
If everyone consumes and does not produce we'll be left to knawing in bones with DeFi leading the charge. But when the DeFi becomes the lesser of "two evils" on the governmental stage, how much of layer one will still hold Satoshi's vision?
With leverage trading casinos open 24/7, despite the covid, retail investors easing in beside group investment accounts that can't get enough and the new, unemployed day traders that would cut off investors' fingers for a buck, I expect Bitcoin to trade sideways under $12k for about a week...returning to the path of the halving cycle as influencers run out of low cap alts to pump.
Previously, I noted a few instances of what many call large exchange accounts, such as Binance, wrecking leverage longs--nearly rejected by the market. This is way, I suspect, the last dump was so extreme and blatant. They overcompensated.
If everyone consumes and does not produce we'll be left to knawing in bones with DeFi leading the charge. But when the DeFi becomes the lesser of "two evils" on the governmental stage, how much of layer one will still hold Satoshi's vision?
With leverage trading casinos open 24/7, despite the covid, retail investors easing in beside group investment accounts that can't get enough and the new, unemployed day traders that would cut off investors' fingers for a buck, I expect Bitcoin to trade sideways under $12k for about a week...returning to the path of the halving cycle as influencers run out of low cap alts to pump.
