It will look round in the end
I am a big fan of big and round things. Spikes to a new high. Comes back into the range. Makes it round. And you won't believe what you see is real. Because you are conditioned to same basic things like:
-Neutral funding is good.
-Bearish posts are good.
-Bad news are good.
-Good news are good.
...
The list goes on. But when the market turns it turns.
-Neutral funding is good.
-Bearish posts are good.
-Bad news are good.
-Good news are good.
...
The list goes on. But when the market turns it turns.
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My spot holdings are reduced to almost DOGE only. ETH related things showed no strength. Yes, I'll play this bounce and maybe small short plays on the way down if this is the case, but I think time to leave crypto is coming.
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Look at gold. Chilling at ATH's. Bitcoin is following risk markets. It even looks like front running it. Interesting times coming.
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And not to mention, you are exposed to an immense propaganda.
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Hmm let's see who called this bounce. The most bearish bear (me)
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And hmm it's still volatile af.
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I took profit here on this gamble. NQ lost trend.
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It looked absolutely bullish 2 times in 2021.
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Bold to assume this one is different.
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People keep talking about funding rates etc but I'd say be careful who you are trading against. It's not average Joe shorting right now, That's obvious.
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This is roughly how I read this chart. Bearish below the red line. 78k target above it.
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If I had to with one of them I'd go with ETH. Not much trap here. Only hope.
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But that as well may break down.
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And if it does...
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The difference. ETH is like trying to decide if this is simply correction to the first leg of the downtrend. BTC is a volatile mess. Making it a better subject for a dist idea.
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And it's not average Joe crashing your longs now.
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Yes shitcoin circles panicking but they know what it's like. Imagine the panic of IBIT boomers.
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But it was a black swan. Well charts told me to gtfo weeks ago.
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Everything is offline, crypto dumps. What does this do? Positive correlations gone. Don't underestimate this effect. Crypto is all about charts. Because there is no real value. There is literally no other way to trade it. It's all human psychology. Bad days are over. Now is time for worse days.
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Lol bros unionizing around an internet character they really know nothing about. Worst crashes happen when the “brotherhood” is too strong.
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Just realize this. If he whoever it is, not telling you this is all gambling and wealth transfer from the vast majority to a really small minority, and even majors do not differ in this sense, he is not your friend.
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There is only one crypto influencer worth respect I know of in this manner. That is DonAlt.
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The incredible analysts who called 32 of the last 1 bounces based on funding rate and spot premium calling the bottom again. Let's see.
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Bears should thank GCR for the dead cat bounce I guess.
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Isn't it cool that I not only predicted that the market would fall despite neutral/negative funding rates, but that everyone will talk about it as an important bullish indicator :D