Thread by @CryptoShadowOff

A simple #Bitcoin chart for bulls and bears

If you want the full commentary on this chart & the BTC outlook, it's in T.me/TierSeven

I'm fully aware of the low F&G index but personally in no rush to buy

- This is due to Q4 2021 profits
- Risk of being too early
- Macro chart & general climate

When I say 'general' , what you guys have to remember is despite how much upside 'potential' that is available to us in #Crypto

This potential is always fighting against the following points...

- Weak high above ATH
- Huge mcap evaluations for utter shit
- Saturated market
- The nature of the market to always catch 90% offside
- The nature of the market to reclaim PNL
- The fact that history doesn't HAVE to repeat
- The 100x draw ups in a single year on #ALTS

- Shared sentiment in YT influencers
- Macro climate outside of Crypto
- Regulatory issues
- The slow death of the largest Crypto exchange(s)

These are the things that a chart will *not* highlight, but that should contextually frame your decisions at all times

I could easily continue such as:

- Greater fool theory
- Ability for the market to act risk off (despite oscillators)
- Negative premiums observed at the weak highs

Or even the fact that all the strangers in the sauna are still bag holding, allergic to suggestions of downside

But to conclude the following two points make the outlook neutral for me

- A lot has been done to the downside + fearful climate
- Points of context listed above

If I'm honest I'm just waiting for the market to prove itself so I can get rich on #ALTS again