My thoughts on if we get a bull trap and what would invalidate it
1/ I believe that after a crash like we just had and the following relief rally, at a certain moment there's not enough buy pressure (trust) to push #Bitcoin over 55-60k
1/ I believe that after a crash like we just had and the following relief rally, at a certain moment there's not enough buy pressure (trust) to push #Bitcoin over 55-60k
https://twitter.com/RevoltCap/status/1396818787635240961
2/ Around that level (or earlier) I expect the market to become uncertain and price eventually to drop for a retest
This could then become a longer (multiple month) consolidation
#Bitcoin
This could then become a longer (multiple month) consolidation
#Bitcoin
3/ Strong #Bitcoin newsflow is what could invalidate this view, as in, large entities (corporates or financial institutions) that put #Bitcoin on their balance sheet or start big crypto services (with serious inflow that soon hit the market)
4/ we already expected more of that newsflow the past 2 months but it wasn't there
So this will be something I'll be watching, what would give more trust to the market and could push $BTC to new highs
Without, I believe there's a high probability we're going to bull trap first
So this will be something I'll be watching, what would give more trust to the market and could push $BTC to new highs
Without, I believe there's a high probability we're going to bull trap first
• • •
Missing some Tweet in this thread? You can try to
force a refresh
