2/ If this scenario does happen I expect alts to eventually bleed a lot which means: shopping time when BTC hits around 30K eventually on a potential retest
This scenario is basically what happened after the 2019 mini bull run (but without the COVID crash)
4/ To be clear: this is a potential scenario, I must admit that I'm leaning towards making this my base case with 50-60% probability: a longer (5-12 months) period of ranging
1/ Alright, looking good so far, long position from 32.5K is doing well and I believe there's a high probability BTC will first move towards 48K vs. making another move lower
2/ Lots of stuff still happening in the background, the China situation seems to be more real than previous FUD but there's a good probability that's already priced in and it looks like China is (potentially) buying the dip
3/ With regard to the China situation, @DoveyWan is hosting a live stream with a few people that know more about this situation at 10am EST today, could be worth checking out
2/ I believe we're currently witnessing another form of bear market PTSD
Just like most expected a smooth bull run, now many look to be worried about a potential Q1 2018 bear market meltdown, resulting in heavy profit-taking (or even selling for a loss)
3/ I still believe @Polkadot has a good shot of becoming one of the leading blockchains in the decades to come
$DOT truly has an innovative design that could potentially leapfrog everything out there and become the layer 0 on which the entire WEB3 stack will be built
1/ This piece of @AlamedaTrabucco got me thinking and resulted in an important conclusion that changes my view on the market and the framework I use, the puzzle is now coming together.
A thread on why we can't compare 2017 with 2021 and why this is BULLISH 🔥
1/ The market is going fast, we're at the make or break it level IMO. Exiting stuff 🔥
-4hr bull div still intact
-200 MA touched
-38K $BTC make or break level
-Many inflow and outflow signals
-Lots of fear in the market
-Large hash rate drop
2/ $BTC touched the 200 MA which could function as a support level and at the same time provides a compelling level to go long for institutional players
2/ What happens after that no-one knows, but I'm betting the bull market will resume and am deep in DEC 2021 call options and even low leverage SEP futures (SL 37.4K)
My take: no this is not the macro top, this is the UBER BTD moment