, 4 tweets, 2 min read Read on Twitter
1/ Top quality analysis as always from @MustStopMurad... and here is some additional TA/FA thoughts on why I believe this scenario will likely play out...
2/ If we do bounce up price would also need to get past these bear market dominating moving averages (112, 128) which I don't think it will be able to so it will get stuck around that $4300 area. A great shorting opportunity if we get to them...
3/ ...because we are due to drop down fairly soon. One of many reasons is this rhyming pattern we see on NVT Signal, which is created by the market psychology of investors vs. traders. It looks like the area of support/resistance may soon break.
4/ Bitcoin Network Momentum shows we are now in Late Bear phase- rising on-chain vol as price grinds sideways. Likely we are now in the green area, with price capitulating in 2-3 months time. About 1/4 of way up momentum cycle before bull market starts. Hang in there everyone! 👊
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