What do the charts tell you and what does a general assessment of the market psychology tell you IAS?
Hold me to this but first I must come clean (as all of us should).
I am in fiat, so my bias is bear (short to mid term bear). Long term is Über Bullish.
Trying to be as neutral as possible, what I see happening is a few HUGE players driving the price up and waiting for bids to fill so they can profit and let the correction continue.
I don't think we can argue the huge players involved. Remove them and we are not where we are. Is that wrong to say? They are a part of the market in a sense, no? Perhaps I am wrong.
psychologically - Same old, the bears see bearish charts, they search for them and find them. The bulls do likewise. (I see both, though the short/mid term still seems bearish, chart wise). I am really trying to be neutral but that is almost a mutually exclusive thing in general, especially when you believe in BTC as I do. Caught between a rock and a hard place. I understand to a point the dire situation of the global monetary situation. But I also know the miracle of a temporary bridge they have been able to sustain and it is more than I imagined. "Just print more". For example, do you know the Federal Reserve loaned the EU 2.3 + trillion last year? Hardly anyone knows that and fewer know that is illegal, but they did it via overnight swaps. Avoiding laws, much like their gold "leasing" did. So, I am trying to increase my BTC position, all the while knowing the global financial situation is like a rope bridge across a burning valley and the fire is starting to touch... ouch. I think that is fairly accurate. And some of the players benefit from the bridge burning, go figure.
Hope that wasn't too long. But we (globally) are in a mess that most have no clue about. And here we are in BTC trying to save the few pennies the "elite" have allowed us to have. Dire, no. Freedom is coming, but the in between is going to be interesting. Long story short, I'm not sure it matters, but it certainly is a nice distraction.
IAS
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