FarzadGM, hope everyone had a great weekend. Sunday Update 5/17 Weakness in crypto vs equities this past week worries me + Saylor not buying. I’m not a big fan of shorting tbh, so not taking any shorts here but just like summer 2022, good bottoms take a long…
I posted about this back in May also but I wanted to bring it up again because we are now back at that inflection point imo.
The Weekly RSI is back at 50 and usually breaking it on the weekly is a really good sign for BTC to go much higher (I labeled out some examples on the chart). Also on the bright side, if you don’t have any spot exposure but want to FOMO, don’t think you are late because of the move yesterday or since the current $57K bottom* but also like I said yesterday I want to see us have a weekly close above $66K and go from there. So far so good, it looks promising 🫡
FarzadVery lackluster BTC flows this week, seems to be the main reason for the weakness in the price action lately. Not much has really happened here (chart attached) I have this ranged marked out and we’ve been in it since late may at this point. Summer months…
GM! We’re looking good for higher short term imo. Breaking out of the range now. I still just have the spot BTC from awhile back and some other coins I’ve held from before. Weekly close above $66K would be where I’d double down in BTC and/or other coins for much higher.
Very lackluster BTC flows this week, seems to be the main reason for the weakness in the price action lately. Not much has really happened here (chart attached) I have this ranged marked out and we’ve been in it since late may at this point. Summer months coming to an end and hopefully volatility picks up going into Sept/Oct and we can get a lot of more trades in here.
Back to selling from Saylor but only $100m from him again, idk why he won’t just rip bigger sells but once again it was to pay off STRC dividends. It feels like if it’s just $100m every time, like once a month or whatever the market impact is nonexistent tbh