In the short term, Woo noted that “you don’t often get this kind of pullback without it relief bouncing” and that a potential capitulation down to the $20,000 doesn’t appear feasible as it would replicate the 2018 crash into a bear market in the space of just three months as opposed to a year.
Woo suggested that the increasing influx of mainstream traders and roll out of BTC futures markets over the past few years has significantly changed the market structure of BTC in which the price directly correlates to “risk-on risk-off from macro traders looking at traditional stocks.”
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when has an og ever mentioned the word bearish ?
Good news. Hope it will go up soon.