BTC: We need to consider this
So, this major trendline has broken. Badly. We could be in for an extended winter. There are long upward trend lines, and there are also downward trend lines, as in we could be here a while. RSI weekly is entering oversold territory, but how long will we be there? We were overbought a good long while...
I'm not saying this will happen, I sure hope it doesn't. Just be careful to get too bullish saying it will reverse soon. I am setting aside small stacks of cash to start buying, but it has been sitting for over a week now because I don't see any sudden signs of a bullish reversal. If institutional money is gonna enter, they'll want to buy in at really low prices. Like... really really low prices. They'll want to shake out as many hands as they can. They'll probably be very patient at it too.
I'm not saying this will happen, I sure hope it doesn't. Just be careful to get too bullish saying it will reverse soon. I am setting aside small stacks of cash to start buying, but it has been sitting for over a week now because I don't see any sudden signs of a bullish reversal. If institutional money is gonna enter, they'll want to buy in at really low prices. Like... really really low prices. They'll want to shake out as many hands as they can. They'll probably be very patient at it too.
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