Just so some of you newer guys understand, the deep pocket momentum traders that got in and out Nov '17 - Jan '18 are now gone.
Sure they still might have a long position, and may be incrementally buying, but in terms of mega volatility swing trading they won't be back with deep money until one or more of the following happens:
1. Most small investors and guppie traders lose interest from lack of price action/ boredom and move on
2. Technicals show a true long term bottoming out (a cup formation)
3. Another impending bullish development, like a sudden Bitcoin ETF announcement that comes out of nowhere. Though, expect massive FUD and volatility in the months leading up to such a surprise. The insiders will know about it 6-8 months in advance.
Keep in mind that in the interim, we could literally drift sideways for a year+.
Sorry Torgue...I disagree. I alluded to this awhile ago. You can feel the difference in market dynamics compared to pre-2017. Where as before we used to see huge volatility in the hourly charts now the price moves are very methodical. Cushioned is the word I think I used. The sure sign of deep pocket money accumulating on low volume imo.Sure they still might have a long position, and may be incrementally buying, but in terms of mega volatility swing trading they won't be back with deep money until one or more of the following happens:
1. Most small investors and guppie traders lose interest from lack of price action/ boredom and move on
2. Technicals show a true long term bottoming out (a cup formation)
3. Another impending bullish development, like a sudden Bitcoin ETF announcement that comes out of nowhere. Though, expect massive FUD and volatility in the months leading up to such a surprise. The insiders will know about it 6-8 months in advance.
Keep in mind that in the interim, we could literally drift sideways for a year+.