When "everyone" thinks it will go down, the reverse happens. Right now the number of actual bears is quite small. There is much bear-ridicule though. That is a sign that the bulls are nervous.
Fact is that price has been sliding down for 3+ weeks, making 4-5 lower highs and the recent lower low. Nobody is buying.
A sudden massive influx of new money would make it a CCMF now. Otherwise, next week or the one after, the most nervous of the bulls will pull the trigger and the capitulation will start.
Another thing is that because it's been taking so long, the ones who sold in anticipation of a buyback have started wasting the money
For example I have taken more and more out of the exchange. The hopes of the bulls, that bears will capitulate and start buying at these levels are delusional. It has not happened so far and will not happen. My buyback level has not budged from $400.
Fact is that price has been sliding down for 3+ weeks, making 4-5 lower highs and the recent lower low. Nobody is buying.
A sudden massive influx of new money would make it a CCMF now. Otherwise, next week or the one after, the most nervous of the bulls will pull the trigger and the capitulation will start.
Another thing is that because it's been taking so long, the ones who sold in anticipation of a buyback have started wasting the money
For example I have taken more and more out of the exchange. The hopes of the bulls, that bears will capitulate and start buying at these levels are delusional. It has not happened so far and will not happen. My buyback level has not budged from $400.bears will buy back after they see nothing happens on the 31st