jonfuentesX

Weekend analysis: Bitcoin

BITSTAMP:BTCUSD   Bitcoin
What can I say?

In my 11 years of experience, I have never seen a similar price behavior, which leads me to think that we are experiencing a financial paradigm shift.

Some believe that the price, being so deviated from its average, can reverse at any time, and I agree. The question is: when?

In this scenario, timing is essential, and although my analyzes at the beginning of the week have been successful and with benefits (you can consult the previous setups in the ideas related to this one), the truth is that these last 3 days there have been very pronounced increases that started from a scenario in which the price was already far from its average, so we find ourselves in a situation in which the premise of selling in the overstretch is compromised.

My opinion is that there are times, more than people think, that the best option is simply to do nothing.

The strategy to follow is to wait for price drops and lower price rejection patterns to buy, as I always do.

However, I will keep a close eye on the price throughout the week and will adjust the analysis as events continue to unfold.
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