We have been seeing a crazy run since October, uninterrupted and with very few and short term bullish consolidations.For the past 3 weeks it seems there is a pattern of run ups during the week and pauses during weekends with weak and short lived pullbacks that are aggressively getting bought up. This is not a common pattern I have observed in the past, on the contrary we use to have weekend breakouts and run ups that were often rendered useless because of these dumb futures gaps.
My guess is that this time the game is being played differently. Google trends are still showing little to no interest from retail, most bitcoiners have been expecting a correction that is yet to come, while institutions keep scooping up BTC at 18000+usd at a rate that does not seem to slow down and are buying every dip and we see sellers fade quickly on the way back up.
After dipping only 7% this weekend, BTC is already back to 18500 with a V-shape recovery start (yet to be confirmed). This looks insane!
I believe the upcoming bull market is going to change the world this time. For the better. Not too sure what I'll do at the 2021-2022 top... take profit in a dying USD or EUR ? buy properties that the governments will heavily tax ? Buy farmlands ? stack some more useless and inflationary gold or silver ? Or just keep holding the only unconfiscatable asset ever created and start buying stuff in sats in 2025.
Looking forward to seeing what next week is going to give us anyways!
Submitted November 23, 2020 at 02:19AM by fruitsetlegs https://bit.ly/36VScbe
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