🔴 #Bitcoin For some time now, the state of the market has looked like this

🔴 #Bitcoin For some time now, the state of the market has looked like this.

Breakout candle followed by a (near) full retrace to take out all the longs that aped in. Longs are scared the second time around so chill out. Only then price actually goes higher.

Second attempt every time.

Of course this has only started "working" the past few weeks. Prior to this we also had these full retraces but they only resulted in further downside and new lows. It's been pretty recent that these actually started going up again.

What will happen this time around is of course anyone's guess! I am still keeping it simple and assuming the trend is up until proven otherwise.