I find it hard to be macro-bearish here. This is what i meant by "bull markets climb a wall of worry" Everything i see looks so bullish momentarily....
The dude looks at the monthly charts and sees nothing but hugs and smiles. Well, let the good times roll.
Well my friends are telling me the world is going to shit and that the bust is coming soon. I don't know of a better insight from a higher timeframe chart. Buffet is in cash, Cuban is in cash... everyone is in cash while the FED is printing like crazy and propping up the market. A lot of people took their money and ran home during the corona panic. When Bitcoin was in a bull run in '17, the bad news just kept flowing. China banned bitcoin, buffet was calling it rat poison... Yet the market kept climbing higher and higher. BTC arrived at 20k$, and CME was going to launch futures trading. That's where the hype started. People thought the futures were going to send bitcoin to a million dollars per coin. No no no..that's where it ended. I don't see how coronavirus is any different? For as long as the sentiment is negative, we are in a bull market. When everything seems to be fine and settled, is when the bear market begins. "Markets are propped to the highest price possible and then sold to the public on the way down" (livermore). Anyways, as many on here would say , just trade the chart. It's just like, when i see big green monthly dildos, coming from historical supports... the last thing i would want to do is short.
Don't compare bitcoin to the overall market, there is almost no institution involved in Bitcoin, therefore not comparable
Charts are telling me we are still in the greatest bull market the world has ever seen, while at the same time, all of you are telling me the opposite. Thanks, but i'll derive bias from the facts rather than subjective opinions. Anyways, this is completely useless for daytrading, if anything, the bias only stands in the way. But for longer term trades/investing, i am still interested in buying dips&& panic.
NDX and a few high-flyers are bullish. Not much else. If you see different, you see something that is just not there.
A big dump is coming, but when it does, don't believe the naysayers IMO. Judging from charts, there is no recession in sight and we are in a historical bull market. I mean fuck, we are going to mars and we are about to have chips integrated into our heads. I see a lot of big projects going out, biggest one is NEOM, saudi arabias 500B project. That doesn't happen in a recession?? The only worry is the unemployment though. That's what brings recession. But maybe it's just temporary, who knows?