BTCUSD: Confluence of Support Suggests Higher Highs
The chart and price action largely speak for themselves here, but there is an addition that can be appended here that is not visible in the chart; the community's sentiment and euphoria around bitcoin are down a lot. Nearly all cryptocurrency analysts are calling for a final pullback, I.E. "this is a sucker's rally", before a breakout of the weekly downtrend and many others are convinced along with them.
While I tend to post contrarian hypothesizes often, this social media bearishness only reinforces my bullishness. Bitcoin options, on LedgerX, executing on 12/31/2020 for a strike price of $15,000 are selling for a $2,500 premium. It is clear that the community has high hopes for Bitcoin year; I believe we currently in the disbelief stage and my charts seem to agree.
While I tend to post contrarian hypothesizes often, this social media bearishness only reinforces my bullishness. Bitcoin options, on LedgerX, executing on 12/31/2020 for a strike price of $15,000 are selling for a $2,500 premium. It is clear that the community has high hopes for Bitcoin year; I believe we currently in the disbelief stage and my charts seem to agree.
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