BTC still deciding...

26 May 2022

I know everyone loves to see a very clear "buy" or "sell" signal, but the reality right now is that we're still operating inside of a relatively large descending triangle, which is a bearish pattern, and on top of that it's coming off of a large down-leg, meaning, technically, this is a bearish continuation pattern, but there's no confirmed breakout yet and jumping in right now is extremely risk as it can always go either way. The stop-hunt this morning means nothing as those moves are meant to shakeout over-leveraged traders in both directions. The idea is...fake out, fake out again, double fake-out, fake a fake out, double-fake a double fake out, and repeat a few more times -- until all of the leveraged traders have lost all of their money -- THEN start the next trending move.