This is a stripped down chart devoid of meaningful levels that I typically use. I wanted to rid myself over the overcomplication that is far too frequent in my charting. What I am looking at is a chart with a clear accumulation/distribution phase. All the way on the right is a clear positive divergence of price and strength. It is my thesis that price is bottoming out. There is so much bullish news and the "OGs" flip from fear to bullishness with each candle. A friend of mine always says to "buy when the house is on fire". Although I do not feel that same sentiment as I did when Bitcoin plummeted to 3k in march of 2020, I think that there is obvious signs of manipulation, or whatever you want to call it. I would imagine that if I had enough capitol to deploy that I would be using it to suppress price via derivatives so that I can accumulate more spot exposure. It is apparent from the overwhelming news of hedge funds and institutions opening up trading desks that the interest in BTC is there. If I were also sitting there with my huge bankroll of fiat looking at these nerds(no offense) who've been accumulating Bitcoin since 2008, I would be feeling a bit left out. That is an understatement. Financial markets are fueled by ego and that recipe of ego vs practicality is printed on the tape. So what would you do if you felt like you missed out? Enjoy and Happy Trading!
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