Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
All I can add is mainstream media (MSM), regardless of its form, generally has no idea how to read markets. This goes for many of the gurus and politicians that populate its commentary.
MSM focus on Elon Musk is more a function of entertainment than investment discipline. It takes years for many to figure this out. Some never do. He and others should focus on their expertise rather than interjecting their opinions about concepts requiring decades of highly specific training and/or experience.
Experience tells us that the sheep will listen to the chart watcher, because the $40,000 call sounds logical in terms of lines and imaginary patterns. The bearish call is based on technical analysis (TA) formation called the head and shoulders top. HS patterns abort all the time. Their forcasting ability is only slightly better than random chance, yet we adhere to them as if they're statistically significant? Where's the dicussion about energy? Energy defines short term inflection points about 3/4 of the time. That's statistically significant, but nobody talks out it.
The more Bitcoin's price drops and energy (DI and DI2) rises, the greater the probability that consensus opinion will be wrong. Experiences teaches us to tune out MSM and follow the invisible hand.
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