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Bitcoin Dumped again and now sits at the Bottom of the Golden Pocket

To us both technical analysis, and global macro analysis, are equally important to understand where Bitcoin is, and where it is going in the future.  We give both equal allotments of our time.  This gives us a well-rounded approach and understanding to the wild wild world of Bitcoin!  From the global macro perspective, we think the rate increases will not be permanent if they happen at all.  Therefore, we see further stagnation and degradation of the USD value and purchasing power.  The Fed cannot afford to raise rates for long.  Too detrimental.  Time will tell if our prediction is right or wrong.


Regardless, Bitcoin will be the alternative currency and inflation hedge of choice whether it’s a deflationary crash, or inflation, stagflation, everyone is running from.  We know that is going to take some time, we don’t know how much time it will take.  The clock is ticking on this bull run cycle.  Bitcoin has to make the parabolic turn, have a bear market and be ready for the block reward halving by early 2024.  If Bitcoin is going to turn parabolic, it will need to happen in six months or less.  There is not that much time left!

Below is a historic chart, showing the “panic zone” when Bitcoin bounced off of the golden pocket and performed a reversal.  Will it happen a third time?  Appears somewhat likely.  Again, time will tell.  Nothing is obvious about this up and down, consolidation Bitcoin has been doing since mid-November.  Here is the chart:


Bitcoin Dumped again and now sits at the Bottom of the Golden Pocket!:

Since yesterday’s dump fear and greed index is down to a lowly 15!:


Bitcoin Dumped again and now sits at the Bottom of the Golden Pocket!:

Lowest it’s been since the March 2020 Corona Virus dump down to $3,800!  Neutral ATM bought into Bitcoin right after that dump.  We were fortunate to get in when we did.  Now we are stubborn and tight fisted about staying in Bitcoin and not bailing whenever it dumps.  We know institutions want to flush out as many retail investors as possible.  Not us!  Thus, the best way to handle these dumps is do your own research and stay away from being emotional about your investment.  Remember, we are not financial advisors and this is not financial advice.  We just simply put our learning experiences on our blogs every weekday.  Diving into global macro analysis and technical analysis helps stay un-emotional about Bitcoin.  That is how we have stayed in almost 2 years, not selling a single satoshi!

Will Clemente sent this chart yesterday.  Reminding us that open interest (leveraged longs or leveraged shorts) are still prevelant in the Bitcoin market, even after this big dump yesterday.  Perhaps, some of these leveraged positions left, are shorts.  That would mean that the price could reverse and wipe out short positions that are leveraged!  We suggest to never leverage and only buy Bitcoin on the SPOT MARKET!  Leveraging is too risky, we never do it!  Here is the chart: