Quote from: Lucius on Today at 02:46:09 PM

I think it's pretty frivolous to talk about the price expressed in millions while even $20 000 is an insurmountable obstacle.

Insurmountable? LOL, have some patience, man! In early 2017 I'm sure $1,200 appeared insurmountable as well. The market corrected 30-40% off the previous ATH not once, but twice. Many bulls gave up hope during those corrections. And then Bitcoin bubbled. Wink

I wish more people felt like you. Then I'd be feeling more bullish. Unfortunately most people seem extremely bullish, anticipating $20K to be broken. Bitfinex short levels are low and swap funding rates are positive........there are no shorts to squeeze.

If we can get a real correction off the $19Ks (none of this 10-15% shit) and shake out some of these greedy bulls and turn them into bears, breaking $20K becomes a lot more likely.

As it stands, I'm beginning to think this sideways near the top is a distribution phase before the market slow bleeds into a crash. I'd be more confident in that assessment if swap funding rates were particularly high (they are hanging around 0.01% on Binance and Bitmex) but still leaning that way.