Regarding the recent short-term Bitcoin movements, here’s a blunt truth that no one wants to admit:

There’s no market trend
No bull, no bear, no breakout, no crash
Only algorithmic bots trading within a $1,000 range up and down, four times a day, each trying to harvest each other
All the upward moves you see are designed to trigger short squeezes
All the downward moves are meant to trigger long squeezes
All the breakouts are fake
All the breakdowns are fake
In the past 17 days, the highest and lowest prices of BTC have differed by less than 9%
The last time we saw such a narrow sideways range was January 2021, and then it surged 50%
The previous time was November 2018, and then it dropped 40%
No one knows where it’s headed next
Not even those pretending to know
The smartest thing you can do right now: either set up a grid or shut down your trading software
#Bitcoin