BTC at an End of an Era?
Anyone aware of any financial instrument that can grow 45% in less than 5 days without experiencing a major reversal? I marked the -332 MACD as a historical low for a reversal and was lucky enough to hit it on the upswing but definitely undershot the top of this bull run. The 1D MACD and RSI were showing a bull retracement and continued bear run down to the lower 5k range.
In the past few days we've completely returned and are presently setting the next ATH. This growth has been just fast enough to see major movement but just slow enough not to trigger a reversal. In the past, the returns have been quicker, triggering much more volatility, or slower over longer periods of time. This suggests to me that the market is seeing a slow influx of institutional money.
In the future I would guess our reversals will be faster with higher lows and higher highs until we see a massive burst followed by a normalcy and regularity to the market. This might be the point of mass adoption, ending the early adopter phase of crypto.
In the past few days we've completely returned and are presently setting the next ATH. This growth has been just fast enough to see major movement but just slow enough not to trigger a reversal. In the past, the returns have been quicker, triggering much more volatility, or slower over longer periods of time. This suggests to me that the market is seeing a slow influx of institutional money.
In the future I would guess our reversals will be faster with higher lows and higher highs until we see a massive burst followed by a normalcy and regularity to the market. This might be the point of mass adoption, ending the early adopter phase of crypto.
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