Over the last few weeks, I've come across this image on a nearly daily basis. Bears were calling for a massive dump, back to $30k or even $10k in some cases.
Now that we've made a new local high of ~55k, can we finally confirm that the August pump was not a dead cat bounce?
As mentioned in many other analyses, I think we're going to see a new all time high soon, potentially even this month. Whales have been massively buying Bitcoin over the last months, exchange reserves are at an all time low, and we're still too early in the cycle to have peaked.
If you're still bearish on Bitcoin, please share your thoughts and charts in the comments.
Happy trading!
Now that we've made a new local high of ~55k, can we finally confirm that the August pump was not a dead cat bounce?
As mentioned in many other analyses, I think we're going to see a new all time high soon, potentially even this month. Whales have been massively buying Bitcoin over the last months, exchange reserves are at an all time low, and we're still too early in the cycle to have peaked.
If you're still bearish on Bitcoin, please share your thoughts and charts in the comments.
Happy trading!
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