It's good to be a BTC permabull but as the 1st rule of trading, you also need to see trends and risks associated.
Zoom out to take a macro look on BTC and it looks weak trapped in a symmetrical triangle in a multi year pattern most likely to break by the end of 2022. The winter of 2022 will actually end the deep long crypto winter we have been under since Dec 2017 :(
"Volume preceded price" - says the original golden rule of TA. And the volume is not promising since 2013. HOLDers are still timing the intra-month market top and bottom and taking advantage of weak hands.
The real capitulation was sub $1000 Bitcoin. Check the price and volume candle on the same.
TL;DR = It's a seller's market at the moment.
Zoom out to take a macro look on BTC and it looks weak trapped in a symmetrical triangle in a multi year pattern most likely to break by the end of 2022. The winter of 2022 will actually end the deep long crypto winter we have been under since Dec 2017 :(
"Volume preceded price" - says the original golden rule of TA. And the volume is not promising since 2013. HOLDers are still timing the intra-month market top and bottom and taking advantage of weak hands.
The real capitulation was sub $1000 Bitcoin. Check the price and volume candle on the same.
TL;DR = It's a seller's market at the moment.