Sina21st on Nostr: Sideways price action is not a bad thing. In a matter of 3 weeks we went from $66K to ...
Sideways price action is not a bad thing.
In a matter of 3 weeks we went from $66K to $100K.
This was too fast. Every day we stay at these prices, the floor gets stronger and more market participants “approve” these prices by transacting at those prices.
Many are taking profit because they think it is too high. Many are buying because they think it is too low.
Every single day that goes by, one more profit taker is eliminated from the market.
Soon enough, profit takers will exhausted. And we will see a strong foundation for the next leg up.
It is happening. But it takes time. Every day is progress.
In a matter of 3 weeks we went from $66K to $100K.
This was too fast. Every day we stay at these prices, the floor gets stronger and more market participants “approve” these prices by transacting at those prices.
Many are taking profit because they think it is too high. Many are buying because they think it is too low.
Every single day that goes by, one more profit taker is eliminated from the market.
Soon enough, profit takers will exhausted. And we will see a strong foundation for the next leg up.
It is happening. But it takes time. Every day is progress.