Hell we had bigger increases all for regular increases, nobody or nothing really made us buy it, we just bought it because we thought it would go up, that is the key here and we need that.
That's really all there is to it at the end of the day isn't it? We buy because we believe it will go up. Although, I sell because I need the liquidation in cash, not because I believe it will go down. When you think about it, not everyone who sells believes it's going down, more people sell because they have to, than buy because they have to.
I'm also leaning bearish myself. Full retrace from $38K and failure to retake the technically significant $35K level....those are typical bearish signs. To boot, we never saw a high volume capitulation in the $20Ks. Like you said, just weak ass tests. The market may need to truly flush out top longs and weak hands before the bull market can continue. There just isn't excess demand at these price levels, not right now.
Yeah, still early days and it really doesn't take that much for weak hands to reveal themselves. We will need some serious bears to dust themselves off and get serious about forcing Bitcoin to find a floor though. No one's committing anything is why we're not getting any strong signals yet.