Chop Life
Expecting severe chop over the next cycle for the BTCUSD pair.
I present this idea as a guide of sort for the coming months.
Wyckoff's Distribution was heavily discussed by many after the crash and few before. Blind to it myself and quite possibly wrapped up in the glory of the possibility of 50x gains to be had in the mother of Alt Seasons, in hindsight, closer attention should have been made to it. However, we move on.
I am expecting a reversal of this same pattern to play out due to the suddenness of such a crash with Price Action (PA) ranging between 30K and 40K (quite likely Whales sucking up the quality prices they missed out on earlier in the year and retail holders selling off in fear of a longer Bear Market). Expecting high touches into the mid-40's and lows possibly as far as £20K as the mother of handovers for Crypto assets occurs from small fish to big fish.
My opinion is that we are only halfway into this Bull Cycle but the path ahead is highly volatile. FUD from the media, large accounts shaking out smaller holders and the occasional unwarranted but perfectly timed tweet from one Wario imitator will surely try to get your heart racing.
HODL for dear life. Diamond hands will be rewarded. FOMO will get you burnt. If you think Futures might save you, it won't. The scalping opportunities with ALTS just might.
NFA.
Not Financial Advice.
No Fear Allowed.
Happy trading.
RN.
I present this idea as a guide of sort for the coming months.
Wyckoff's Distribution was heavily discussed by many after the crash and few before. Blind to it myself and quite possibly wrapped up in the glory of the possibility of 50x gains to be had in the mother of Alt Seasons, in hindsight, closer attention should have been made to it. However, we move on.
I am expecting a reversal of this same pattern to play out due to the suddenness of such a crash with Price Action (PA) ranging between 30K and 40K (quite likely Whales sucking up the quality prices they missed out on earlier in the year and retail holders selling off in fear of a longer Bear Market). Expecting high touches into the mid-40's and lows possibly as far as £20K as the mother of handovers for Crypto assets occurs from small fish to big fish.
My opinion is that we are only halfway into this Bull Cycle but the path ahead is highly volatile. FUD from the media, large accounts shaking out smaller holders and the occasional unwarranted but perfectly timed tweet from one Wario imitator will surely try to get your heart racing.
HODL for dear life. Diamond hands will be rewarded. FOMO will get you burnt. If you think Futures might save you, it won't. The scalping opportunities with ALTS just might.
NFA.
Not Financial Advice.
No Fear Allowed.
Happy trading.
RN.
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