My humble, reasonable thoughts on Bitcoin.

27 May 2021

https://www.tradingview.com/x/ZxKwXbLf/

27 May 2021

Not

I'm keeping the chart in linear scale so it brings to light what we are actually looking at. Log scale doesn't do it justice on the move we already had over the last 14 months.

If you look over 2017 and 2019 positive price action moves you'll notice something very similar to 2021's move in the way that we stayed above all moving averages. This is probably the most basic and trust worthy indicator to use when trading on all time frames. But being that we are looking at a Daily time frame getting under the averages usually means its going to take quite awhile before we get back on top. And even if we do I full heartly believe we are going to chop, chop, chop all around them all the way to the point big money says the hell with it. Big money is what was needed to get Bitoin where it is but I dont for one second believe they are gonna come plowing through the Bitcoin market with gobs of cash loading up. Any sane inverstor knows what they are looking at. Bitcoin broke the trend and topped out. Plain and simple ran out of steam. If institutions really want in the game, I assure you they are not buying the Fucking Dip. Maybe after youtube and twitter dies down, they will be positioning themselves but not now. If anything, the few institutions that are in would be currently unloading on the market since its to their advantage being every crypto youtube channel out there is telling them to buy now becasue its on sale. Don't get me wrong, I love trading the crypto market. I do think crypto has potential for a place in the world. But from a fundamental stand point, this isn't where we HODL. That was far more beneficial, say when we retested 20k and took off in the upward direction.