It seems to me that sentiment is pretty low right now. Expectations for fed bungling of inflation efforts, stocks bearish even after significant fall. World political / economic outlook pretty bleak. Supply chain issues as a fundamental suggesting a generalized slowdown. So a bear attitude is the most natural thing in the world. It "feels" like the market is going to dump in a historic way. But that feeling is fear. And they say to buy the fear.
I think we have a lot of this negativity priced in already. I'd expect a shock to drop BTC price a bit so whales can get the best price possible but my sense today is BTC and the crypto market in general will get at least a breather in the coming weeks. Probably another leg up.
We'll see. I'd definitely set a stop loss on any longs I take in the near future. But I am more likely to long than short at the moment.
By the way, those indicators are my own slight mod of LUX Algo Nadaraya Watson Envelope. Kind of intriguing results lately.
I think we have a lot of this negativity priced in already. I'd expect a shock to drop BTC price a bit so whales can get the best price possible but my sense today is BTC and the crypto market in general will get at least a breather in the coming weeks. Probably another leg up.
We'll see. I'd definitely set a stop loss on any longs I take in the near future. But I am more likely to long than short at the moment.
By the way, those indicators are my own slight mod of LUX Algo Nadaraya Watson Envelope. Kind of intriguing results lately.