This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIs the Bitcoin bull market back?Finally. The market is showing early signs that the pain could be over or close to subsiding. Price saw a massive move up yesterday, in a well orchestrated short squeeze to punish bears. This was a technical move, created by traders.That being said, it’s very important to keep expectations in check. The laws of physics tend to apply in nascent markets, especially crypto. Newton’s 3rd law tells us that every action has an opposite and equal reaction. This is exactly what we have seen in crypto over the past few months - parabolic rise, violent crash down. Like a rubber band, if Bitcoin overstretches in either direction, it will spring back in the opposite direction, often beyond equilibrium.Yesterday's move was amazing to experience - both fast and furious price action to the upside. Still, price is below the key levels of resistance that need to be broken to spark a new bull market. This could be a bull trap, but for now I am cautiously optimistic. As you know, I started buying again around 31K.An ideal scenario is that Bitcoin quietly rises to overtake its all-time high. This would allow for the price to go up without inspiring FOMO from retail traders who tend to be a catalyst for more violent swings. A slow steady climb would not cause the rubber band to overstretch. It would be normal for the asset considering Bitcoin’s historic year-over-year growth. Either way, there's nothing wrong with celebrating this first step in the right direction. I will be live streaming today at 2 PM EDT. Come hang out, this one should be fun! https://www.youtube.com/watch?v=XK6DsgSMQQMIn This Issue:Is The Bull Market Back?Bitcoin Thoughts And AnalysisAltcoin ChartsCrypto Tax LoopholeFTX Is Cutting Back On Leverage - Binance TooAmazon Insider Claims Bitcoin Payments This YearEthereum Staking Continues To ClimbMy Recommended Platforms And Tools
The Wolf Den #293 - Is The Bull Market Back?
The Wolf Den #293 - Is The Bull Market Back?
The Wolf Den #293 - Is The Bull Market Back?
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIs the Bitcoin bull market back?Finally. The market is showing early signs that the pain could be over or close to subsiding. Price saw a massive move up yesterday, in a well orchestrated short squeeze to punish bears. This was a technical move, created by traders.That being said, it’s very important to keep expectations in check. The laws of physics tend to apply in nascent markets, especially crypto. Newton’s 3rd law tells us that every action has an opposite and equal reaction. This is exactly what we have seen in crypto over the past few months - parabolic rise, violent crash down. Like a rubber band, if Bitcoin overstretches in either direction, it will spring back in the opposite direction, often beyond equilibrium.Yesterday's move was amazing to experience - both fast and furious price action to the upside. Still, price is below the key levels of resistance that need to be broken to spark a new bull market. This could be a bull trap, but for now I am cautiously optimistic. As you know, I started buying again around 31K.An ideal scenario is that Bitcoin quietly rises to overtake its all-time high. This would allow for the price to go up without inspiring FOMO from retail traders who tend to be a catalyst for more violent swings. A slow steady climb would not cause the rubber band to overstretch. It would be normal for the asset considering Bitcoin’s historic year-over-year growth. Either way, there's nothing wrong with celebrating this first step in the right direction. I will be live streaming today at 2 PM EDT. Come hang out, this one should be fun! https://www.youtube.com/watch?v=XK6DsgSMQQMIn This Issue:Is The Bull Market Back?Bitcoin Thoughts And AnalysisAltcoin ChartsCrypto Tax LoopholeFTX Is Cutting Back On Leverage - Binance TooAmazon Insider Claims Bitcoin Payments This YearEthereum Staking Continues To ClimbMy Recommended Platforms And Tools