$BTC has been moving higher for almost four weeks now, and a lot of people seem to expect the rally to continue without any meaningful correction.
But remember, the narrative of an October bottom was being pushed heavily around the lows and throughout this entire move higher. Now that the rally has pushed bears into extreme despair, I wouldn’t be surprised to see some kind of pullback heading into October.
Looking at the downside liquidity, there’s a lot sitting below. Bulls are heavily positioned, greed is elevated, and markets rarely move in a straight line when sentiment gets this one-sided.
A healthy correction could shake out overleveraged bulls before the next major move higher.
Don’t lose sight of the bigger picture. Pullbacks can create better entries for longs and opportunities to accumulate more spot.
Wishing everyone prosperity and, as always, trade safely.
#AIStocksWhatNext #21SharesLaunchesEuropesFirstZcashETP
But remember, the narrative of an October bottom was being pushed heavily around the lows and throughout this entire move higher. Now that the rally has pushed bears into extreme despair, I wouldn’t be surprised to see some kind of pullback heading into October.
Looking at the downside liquidity, there’s a lot sitting below. Bulls are heavily positioned, greed is elevated, and markets rarely move in a straight line when sentiment gets this one-sided.
A healthy correction could shake out overleveraged bulls before the next major move higher.
Don’t lose sight of the bigger picture. Pullbacks can create better entries for longs and opportunities to accumulate more spot.
Wishing everyone prosperity and, as always, trade safely.
#AIStocksWhatNext #21SharesLaunchesEuropesFirstZcashETP
