I believe we will bottom around 85-90k.
Short term price action is bearish. I believe there is a very high probability of a new low.
I have positioned accordingly (reduced long exposure and have set bids).
BTC going up is more than just low rates. It is the idea of btc in a hyper inflationary environment, the next gold narrative, long term store of value, etc. The mind virus of btc is something that creates infinite buying. I don't believe we are close to a market top, but if we do not bottom around 85-90k, that would be something unusual and I would reevaluate my long term thesis.
Side note: HYPE is a better risk adjusted long relative to btc or any other major. I am selling assets to buy HYPE.
Short term price action is bearish. I believe there is a very high probability of a new low.
I have positioned accordingly (reduced long exposure and have set bids).
BTC going up is more than just low rates. It is the idea of btc in a hyper inflationary environment, the next gold narrative, long term store of value, etc. The mind virus of btc is something that creates infinite buying. I don't believe we are close to a market top, but if we do not bottom around 85-90k, that would be something unusual and I would reevaluate my long term thesis.
Side note: HYPE is a better risk adjusted long relative to btc or any other major. I am selling assets to buy HYPE.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.