Taking the noise out of the ADP payroll report caused by 20 million panic layoffs followed by 20 million panic new hires, keeps the scale compressed and puts 2022 in proper perspective:
Doh!
Tanker stocks are on the new 52 week highs list every day recently.
They are a good indication that social mood is once again giddy despite epic risk.
What was so bullish about China meltdown in 2015 and pandemic in 2020?
Nothing.
1/ There is nothing worst than the illusion of decentralisation.
Hosting providers are starting to block VPS usage for blockchain nodes.
Convenience of centralisation is a big threat to resilience and censorship resistance.
OPEC is going to bailout the oil market because the tight supply narrative couldn't compete with global recession.
This formation was a bear trap and this overthrow will be a bull trap.
Bulls still haven't learned that the market corrects against the trend. Looking back one year ago at Bitcoin we see the market probed the lows multiple times and then exploded higher.
This year it's been correcting against the trend and then breaking lower.
TA 101.