Quote from: gentlemand on December 04, 2020, 11:21:51 PM

Could be a while yet. The most important thing is that it went for it. I really wasn't expecting that so soon. Every time it shies away from it just means when it does do it it'll happen with some serious conviction.

It could be tomorrow. It could be well into next year. Either works fine for me. We're in a great position.

Similar feelings here. Really not sure if the breakout is coming soon or if a big shakeout is still around the corner first.

I'm big on contrarian trading, and my read on sentiment is that people are very, very bullish and greedy right now. That certainly makes me cautious. Shorts closed massively in the last 1-1.5 weeks, down 65% on Bitfinex since November 25th: https://bitcoinwisdom.io/grids/btcusd_longs_shorts

Now instead of providing fuel for a rally via short squeezing, bears are scared to short. The Fear & Greed index is also at 95, indicating "extreme greed."

I think bears, skeptics, and longer term bulls alike were blindsided by how fast this push to $20K happened. The combination of scared bears and confident bulls makes me feel like a brutal shakeout is still very possible from here, in which case the push above $20K would be put postponed until Q1 next year.