The weekly volatility is now near zero, which is very unusual for Bitcoin - certainly unusual for the last few years of price action.
It feels like we are in the depression phase of the market - after a bear market, all the traders are rekt and no-one cares about the asset any more - effectively, crypto is ded...
... until it's not.
It's when the asset is ded that we have a good chance of picking up bargains, if you are patient.
Now is not the time to margin trade or leverage trade, but personally, I've bitten the bullet and bought some BTC with cash and going to hold it. If it breaks down and not up, I can short to hedge via Bitmex.
Theoretically, if someone bought here with cash and bitcoin breakdown, would you just accept a small loss and enter your short? Or do you have a stop sell set up to fill if it breaks below support ?
DatCryptoBoi
⋅
@ThankUKind, depends what kind of breakdown. Looking at the order book there are massive fat buy walls at 5.8k - 6.2k, would take quite a bit of selling pressure to get through those and we don't have the interest from sellers (yet)