Hi All,
===================================
I was meaning to publish this yesterday however I wasn't feeling well so it stayed in draft. Feeling better now but still not 100%.
Hence more the reason to publish this, as the price action today confirms my thesis.
===================================
> Its been on my mind for some time from the thought that this could be a bottom in formation, just like what we had early in 2018. Except this is not the bottom.
> Similarly we also had it between 6k to 7k, as per chart below.
> For me it was the monthly level of 9250 to 9350 area of interest, based on the CPR tool (as confirmation)
> In many cases, if the market was as usual, what we are accustomed to, the price would have dropped some time ago, much more volatility.
What we are seeing, to me is big money buying in, at a steady rate.
If you looked at my previous macro posts, there is plenty of evidence that this is happening, more so now.
Let me explain the current fractal.
> On the left, we have the Jan, Feb, 2018 bottom in and how the 4100 was the resistance and how price kept going towards it on the daily using the 20/50 ema as the bottom support.
>Similarly, the chart on the right, as of today, we have the same type of price action, where as the 4100 is now the 10400.
Without pulling more charts for this argument, it is clear that with this trajectory, we will break the 10K and then move to 10.5K.
I recall listening to an experienced trader stating that he will not sell and eat red rather than trying to gett the bottom on this wave as it will be difficult (and that he was going long).
I think he was right.
I also recall him talking about (last year) when we were watching the bottom Macro trend, that we will have a low volatility and a boring price action period for months before we
start the next bull run.
Does this not fit the model?
> Finally, I saw a tweet that supported my thesis, which stated that Grayscales Bitcoin Trust bought 18910 Bitcoin since the halving.
Only 12,337 btc have been minded since the halving. Wall Street wants bitcoin, and they don't care what Goldman Sachs has to say.
If this is true, it can explain the price action as well.
Please give me a tick or like for this post.
Regards,
S.Sari
===================================
I was meaning to publish this yesterday however I wasn't feeling well so it stayed in draft. Feeling better now but still not 100%.
Hence more the reason to publish this, as the price action today confirms my thesis.
===================================
> Its been on my mind for some time from the thought that this could be a bottom in formation, just like what we had early in 2018. Except this is not the bottom.
> Similarly we also had it between 6k to 7k, as per chart below.
> For me it was the monthly level of 9250 to 9350 area of interest, based on the CPR tool (as confirmation)
> In many cases, if the market was as usual, what we are accustomed to, the price would have dropped some time ago, much more volatility.
What we are seeing, to me is big money buying in, at a steady rate.
If you looked at my previous macro posts, there is plenty of evidence that this is happening, more so now.
Let me explain the current fractal.
> On the left, we have the Jan, Feb, 2018 bottom in and how the 4100 was the resistance and how price kept going towards it on the daily using the 20/50 ema as the bottom support.
>Similarly, the chart on the right, as of today, we have the same type of price action, where as the 4100 is now the 10400.
Without pulling more charts for this argument, it is clear that with this trajectory, we will break the 10K and then move to 10.5K.
I recall listening to an experienced trader stating that he will not sell and eat red rather than trying to gett the bottom on this wave as it will be difficult (and that he was going long).
I think he was right.
I also recall him talking about (last year) when we were watching the bottom Macro trend, that we will have a low volatility and a boring price action period for months before we
start the next bull run.
Does this not fit the model?
> Finally, I saw a tweet that supported my thesis, which stated that Grayscales Bitcoin Trust bought 18910 Bitcoin since the halving.
Only 12,337 btc have been minded since the halving. Wall Street wants bitcoin, and they don't care what Goldman Sachs has to say.
If this is true, it can explain the price action as well.
Please give me a tick or like for this post.
Regards,
S.Sari
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
