BTC did not experience capitulation yet

16 giu 2021

Can see something like this happen. I don't think investors have capitulated from the recent sell off. I think the system had too much leverage and 2017 trauma was still fresh. The liquidations created forced sellers. People didn't actually want to sell, they got rinsed. For real capitulation, I think it requires months of grind down and re-tests of the 30k support line. I anticipate a complacency shoulder followed by months of sideways uncertainty and eventually a break down into mid 20k's. If that happens, I will be an aggressive buyer there.

21 giu 2021

Nota

Suppose we may have some forced sellers again. This is no longer a technical market, it is driven by flow of selling from miners packing up BTC operations. Let's see how low we go.

Important levels:

Yearly open
23K (some decent vol traded there)
19k (massive volume, previous ATH)