BTC has a history of getting way ahead of itself. Is 3.2k the obvious entry point based on repeating price action? The symmetry is beautiful.
The disappearance of cryptocurrencies from mainstream media has coincided with institutional investment in exchanges and availability of derivatives trading, which has now gone very quiet. I can't help but feel the financial sector missed the crypo-boat and are using the futures market to real it back in; once they are heavily positioned I am optimistic the breaks will be taken off.
Have we entered the final phase of Breakout-FOMO-Euphoria-correction-dead cat rally-despair-capitulation cycle? Are we now in an coiling accumulation phase for the financial sector while all the millennials are looking the other way buying weed stocks?
I will be accumulating a small position if we see $3000-$3200. Stop loss at $2800.
Enjoy.