#Bitcoin $BTC
I want to go ahead and talk about logic for this rally.
1. In a bear market, any pump would be to dump harder, which has been the case throughout this past year. All of the past rallies were achieved via Bart patterns, signally a lack of real buying volume.
I want to go ahead and talk about logic for this rally.
1. In a bear market, any pump would be to dump harder, which has been the case throughout this past year. All of the past rallies were achieved via Bart patterns, signally a lack of real buying volume.
However, we can clearly see that this most recent rally was achieved via pump + organic buying volume. We had consolidation instead of retrace throughout the rally, price moves that mirror moves of 2017.
So why are volumes coming back?
So why are volumes coming back?
Without change in fundamentals, any serious pump would be to liberate trapped higher-up positions and a colossal waste of money for the bulls. Bulls won't be stupid enough to blast through many critical resistances allowing higher-up positions to exit.
So my wild guess here is that
There is INDEED a change in fundamentals.
That fundamental is approval of ETF.
There must have been leaked info to the insiders that ETF will be approved on August 10th.
Those with that info are coming back to build their positions.
There is INDEED a change in fundamentals.
That fundamental is approval of ETF.
There must have been leaked info to the insiders that ETF will be approved on August 10th.
Those with that info are coming back to build their positions.
