Good morning! It's been a crazy week. Let's see what CTSI is signalling and if how we might feel about it.
- Most importantly wider market volatility has risen and we should expect that this will continue from here on out. We are entering late stages of the bull market, where risk is high but the most money can be made in the shortest amount of time. And to survive we need to back the right horses and avoid leverage and liquidations.
- Bitcoin needs to hold 41k to maintain bull market status, a break of 41 will be the most important negative trigger to what is still a normal crypto bull market.
- Cartesi and other alts have a strong backing from here as the ETHBTC pair is proving to be unstoppable.
- Cartesi is sitting inside the apex of a long-established triangle/wedge. we don't know which way this will break, but I present two options, red and green.
RED: represents volatility and risk-off sentiment into year-end, uncertainty could most likely be followed by real accumulation in the new quarter by institutions after traders have taken their Christmas bonus. I think that this scenario is most likely for now.
GREEN: is optimistic, but it is not unrealistic that this sharp sell-off would be met by strong buying pressure.
Conclusion: we are at a crossroads, where we may see realise cycles lengthen and the moon bois are proven wrong. The uncertainty around this will cause panic amongst the majority leaving cryptos volatile but flat maybe into January.
It may cause some stress, but I firmly believe that this market has a long way to go. We just have to beat the institutional game with patience.
- Most importantly wider market volatility has risen and we should expect that this will continue from here on out. We are entering late stages of the bull market, where risk is high but the most money can be made in the shortest amount of time. And to survive we need to back the right horses and avoid leverage and liquidations.
- Bitcoin needs to hold 41k to maintain bull market status, a break of 41 will be the most important negative trigger to what is still a normal crypto bull market.
- Cartesi and other alts have a strong backing from here as the ETHBTC pair is proving to be unstoppable.
- Cartesi is sitting inside the apex of a long-established triangle/wedge. we don't know which way this will break, but I present two options, red and green.
RED: represents volatility and risk-off sentiment into year-end, uncertainty could most likely be followed by real accumulation in the new quarter by institutions after traders have taken their Christmas bonus. I think that this scenario is most likely for now.
GREEN: is optimistic, but it is not unrealistic that this sharp sell-off would be met by strong buying pressure.
Conclusion: we are at a crossroads, where we may see realise cycles lengthen and the moon bois are proven wrong. The uncertainty around this will cause panic amongst the majority leaving cryptos volatile but flat maybe into January.
It may cause some stress, but I firmly believe that this market has a long way to go. We just have to beat the institutional game with patience.
