How well are my BTC predictions doing lately?
Six days ago I wrote this: Volume Drops off a Cliff.
All logic points to a retest of support at $37,500
The day after I wrote this:
While the price has gone down, has it really gone down enough to justify "buying the dip"? Not really.
And like a market possessed, within hours, Bitcoin was spiking to $42,250. But the bears weren't buying that story, and we have since tested the exact $37,500 level.
It appears that unit-bias has been cut in two and we are now trading between the $5k range of $37500 and $42500 during this ten day period.
Knocking hard on $40k.
And once again after that post nine days ago we see that $40k has become a make-or-break level. Personally this market couldn't look more bullish right now from my point of view. If we don't get deflected here a spike back up to at least $42500 is all but assured.
The supply shock is real. We don't need volume to move up anymore, just a little more time for institutions, corporations, and traders to realize what's happening here. We've run out of hot water: now go take a cold shower.
The FUD is over. It's FOMO time.
Many are still in shock over the recent "multi-year crypto-winter bear market". It is what it is: Thin skin can't handle this volatility. The only shock I see is supply-shock. Market has run out of sellers. We keep scraping rock-bottom volume levels but going up in price. Liquidity in the downward direction is extremely drained and seems to have a stacking effect over time. I've seen parabolas forged with less momentum than what I'm seeing today. Seems as though the 4-year cycle theory gets more confirmed as we make it through the summer. Q4 mega bubble is certainly on the table and looking even more likely than ever.
Conclusion
So how are my predictions doing? I seem to be the most right/wrong at the same time as is humanly possible. I guess no one ever said being an oracle was easy.
It will make sense after it's happened.
But what good is that?
Not my problem.
Given the bullishness of this post, we are almost certainly to get rejected at $40k tomorrow. Sorry guys! Jinxed it!
Posted Using LeoFinance Beta
Return from Market Watch: $40k proving to be critical level. to edicted's Web3 Blog
