This was written when BTC was around $55k. Price was dropping when this finished. In retrospect, it was unfortunate timing for publishing a piece focused on a longer timeframe... This outlook here is on the magnitude of months, not days. We're considering moving this type of analysis to a 1st of the month... and keep Monday Updates focused on days to weeks timeline. What're your thoughts on this?
Regarding the drop... our indicators didn't show any looming drop... Binance and FTX APIs were knocked offline causing any bid support to be null. This isn't something we can predict using our methods. And it's why price bounced so hard when support broke at $52k. There's some talk about this being a manipulative event to get some orders in, but we're still doing research on our end to confirm or reject this hypothesis.
"why price bounced so hard" - this is because the drop appeared pre-meditative. Our bots tried 8 times to get orders in as price rallied at $50k. Yet somebody was able to buy.
Obviously this was written before today´s big dump: BTC at 52K at the moment...
This was written when BTC was around $55k. Price was dropping when this finished. In retrospect, it was unfortunate timing for publishing a piece focused on a longer timeframe... This outlook here is on the magnitude of months, not days. We're considering moving this type of analysis to a 1st of the month... and keep Monday Updates focused on days to weeks timeline. What're your thoughts on this?
Regarding the drop... our indicators didn't show any looming drop... Binance and FTX APIs were knocked offline causing any bid support to be null. This isn't something we can predict using our methods. And it's why price bounced so hard when support broke at $52k. There's some talk about this being a manipulative event to get some orders in, but we're still doing research on our end to confirm or reject this hypothesis.
"why price bounced so hard" - this is because the drop appeared pre-meditative. Our bots tried 8 times to get orders in as price rallied at $50k. Yet somebody was able to buy.
https://www.youtube.com/watch?v=tte1jZuF9UI