Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Bitcoin, like every other market, trains its undisciplined followers to "chase their tails". Chasing one's tail is a reference to a general lack of investment discipline. We use the Evolution of the Trade. Traders/investors can survive weak or nonexistent trading discpline only so long.
Bitcoin is bouncing around a lot, and I have no doubt, traders are trying to scalp points within the daily trading range. Scalping between the goal post is extremely hard to maintain consistency and profits, but millions do it.
Bitcoin is likely reacting to the dollar's strength. The dollar strength is finally being recognized by the same clowns that called it dead only weeks ago. Where Bitcoin goes from here depends on the composite trend, cycles, and energy. If yesterday's weakness pushes DI higher on Friday, the bulls will be ready to pounce on another RESET, if one materializes.
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