Table of Contents
I hope that everyone is doing well, I’ve been really absent the last couple of months. Can’t remember the last post I published 😪
I will discontinue the Technical Analysis in my market recaps, because I don’t have any proof that I’m good enough to provide the charting. I’ll be shifting my focus on On-Chain metrics and Psyops.
What’s the market saying right now? Bullish
We’re back at all time high, trying to break it and set new highs. People are obviously euphoric at these prices.
Let’s take a look at some metrics, I love to take a step back and zoom out to look at the bigger picture.
We’re seeing a downtrend in exchange reserves again, whales are buying and withdrawing from the Exchanges into their custodial wallets.
Bitcoin miners are still not selling since March 2021 and are still HODLing at the recent highs. They might be anticipating more upside.
I’ve come across an amazing metric that combines different metrics to create an average score.
The CBBI is a Bitcoin index that utilizes advanced, real-time analysis of 12 metrics to help us understand what stage of the Bitcoin bull run and bear market cycles we are in. The CBBI is time-independent and price-independent. It simply indicates whether it believes we are approaching the top/bottom of a Bitcoin cycle.https://colintalkscrypto.com/cbbi/
The CBBI score is 62 at the time of this writing so we have a long way to go. A score of 80 would be a level to start being cautious.
Emporia territory, be careful people.
A very euphotic market sentiment right now, I don’t blame them for feeling happy for their portfolio.
What am I doing right now?
HODLing, at the sidelines watching the market and metrics doing it’s thing. I’ll be rebalancing my portfolio into REALT when the market starts to overheat, but laying back for now.
Tip Jar ☕
If you appreciate the work I’m doing, consider supporting the website 😊
ETH or ERC20: mitchel.eth
BTC Segwit: bc1qqfnfkrnhv903v9v38n98vvk35hgrp77ay7kwqr
BTC legacy: 1DhGZ1kvEF1wamq3oRb4f7pPz3cMBaxKz
I’ll list some reminders for you guys and useful articles to help you understand certain topics better.
Always keep this image in mind, money flows from asset to asset.
Take control of your emotion, and remember that you are the one pulling the trigger. It’s a lot harder than it sounds. This is the reason why you can’t rely on demo account or play accounts, because you’re taking away the biggest hurdle of an investor, EMOTIONS.