Another candlestick analysis puzzle — what happens next and why? Please share your thoughts. Really enjoyed reading them last time.
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Totally bullshit thoughts, NOT FINANCIAL ADVICE:
1) ~$7k is the current economic fundamental resting price
2) some flow-based moves in either direction
3) markets waiting real good or bad fundamental news to have a sustained break
Yes! More bullshit Sam thoughts please! Haha. That’s interesting on flow based. Seems insane to not have been keeping an eye on that frankly.
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Hi Sam - can you pls clarify what you mean by number 2? Isn’t everything flow based at end of the day, it’s just, say, another way of articulating key chart levels (more bids at key support, more asks at key resistance)? Sorry if this is a dumb question.
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It's a good question! In the end everything is, but I'd distinguish between:
(a) some person decides they want to invest in BTC
(b) BTC becomes global payment source for Starbucks
(a) is flow but probably one-off and they'll sell out later. (b) is sustained.
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