Wednesday, May 19, 2021

#Bitcoin Review $GBTC #BTC

Bitcoin Review
Those that view the message of the market on a daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.

Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.

Subscriber Comments

The focus for the bulls has been energy during the consolidation. A rising DI defines accumulation, while falling is distribution. If you watch the previous Bitcoin Review, I also revealed the importance of reversals. Reversal zones, supply/demand “gaps” within all the timeframes, can become as important as energy at least over the short-term when they fail.

Does this matter? Yes. Price tends to move between reversal zones rather quickly. The space between reversals is called an air pocket. Price tends to accelerate (up or down) within air pockets unless a statistically significant energy build exists to opposite direction.

$GBTC tracker was holding onto an important reversal last week, but it appears to be failing. We must frame this observation against energy.

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Market-driven money flow, trend, and intermarket analysis is provided by an Access Key.