I formed a thesis back around mid-september that around the time of Bakkt launch we would see the price break downwards out the bull pennant into a bear trap that would continue to consolidate until bakkt volume became noticeably substantial causing a fake-out. When bitcoin started rallying Bakkt saw record volume, a 350x increase over initial listing showing that there is still obvious demand for Bitcoin.
Referring to the market bubble cheat sheet that I have closely followed since the 2017 rally (as have many others), we could possibly be in the midst of the media attention phase especially with Bakkt about to launch options early December although I am aware a larger portion of the market that does follow these cycle templates are mostly looking at the traditional "Wall St Psychology of a Market Cycle" pattern. Feels a lot like the CBOE run-up for me although I am counter-biased as I would still prefer a breakdown to accumulate further.
Look at the facts, not your bias.
market bubble:
realinvestmentadvice...ology-Curve-Full.png
wall st sheet:
wisecryptos.com/wp-c...f-a-Market-Cycle.png
Referring to the market bubble cheat sheet that I have closely followed since the 2017 rally (as have many others), we could possibly be in the midst of the media attention phase especially with Bakkt about to launch options early December although I am aware a larger portion of the market that does follow these cycle templates are mostly looking at the traditional "Wall St Psychology of a Market Cycle" pattern. Feels a lot like the CBOE run-up for me although I am counter-biased as I would still prefer a breakdown to accumulate further.
Look at the facts, not your bias.
market bubble:
realinvestmentadvice...ology-Curve-Full.png
wall st sheet:
wisecryptos.com/wp-c...f-a-Market-Cycle.png