The Bitcoin low could be in for the cycle, price wise only. Doesn’t need deeper.
But I’d argue strongly it’s going to need 3-5 months (sideways) to build a base from which the next Cycle can launch from.
Personally think @saylor should admit he fucked up (blame it on the cocaine), sell down to 500k BTC, and never tweet or show his face again..
It would be the best thing for Bitcoin and his shareholders.
Bitcoin continues to challenge the neckline of a large head-and-shoulders top, while working off its overbought condition with little or no price damage. This is very much how early bull markets have generally behaved.
The "Liz Truss moment" of 2022 has turned into the UK's political reality, with 30-year yields soaring to their highest levels since 1998 and the pound weakening. "No matter who is in power, no matter their political leaning, there does not appear to be a credible plan to restore the country’s finances." https://t.co/b0CkumyQ3f
13 consecutive 2-day candles without a prior low violated. Insane one-timeframe ripper amidst generationally high geopol risk. If you aren't keeping personal records/journals of this moment in time, you definitely should be. Staggering.
US economic data keeps surprising to the upside, while European data keeps surprising to the downside. That gap just keeps growing, according to Bloomberg economic surprise indexes.