What’s more likely to act as a catalyst for a market — an RSI reading or a real-world exogenous or endogenous event?

The 5% wait patiently for a market to set up. As cryptocurrencies trade through time, prices are driven above and below zones where entry can not only provide a quantified amount of risk but also market feedback if the position is unprofitable.

In contrast the 95%, the inconsistent majority, buy highs and sell lows. Yes, sometimes this can work, and yes, it is a strategy at one specific point during the price cycle, that allows good risk management and market feedback, but most of the time buying the high and selling the low is highest risk lowest reward strategy a speculator can deploy.

Bitcoin is climbing a wall of worry without mass public participation. While news of Bitcoin’s rise might be making headlines in Australia, in other countries, like the UK, cryptocurrency rarely makes the news. In May 2019 the general public is still not invested in crypto. (As a test, ask around next time you’re out socialising)

What is behind this week’s 32.4% move up in Bitcoin? An indicator reading or are there background forces a work?