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This will catch everyone by surprise.
All I'm seeing over the timeline are highly bearish predictions for the rest of the year.
Even if its not people talking about BTC topping around here, they're speaking about the cycle being done within the next few months, and alts getting a very minor move.
They couldn't be more wrong.
The one major thing in this cycle that has been highly different is the level of manipulation/consolidation and subsequent PTSD.
With Institutional money entering the space, things have become even more manipulated.
And the money that controls the market has done an incredibly damaging psychological number of the vast majority of market participants.
The disconnect between reality and belief has been staggering.
We have had some of the most incredible and clean bullish PA on Bitcoin, and the amount of people calling it wrong has been staggering.
The emotions are fully ruling the collective consciousness of this space and it shows.
Almost everyone i have any contact with about the market is extremely pessimistic and defeated.
But... this is GOOD, not BAD.
I say it all the time, but the worse things feel, the closer to the bottom... not the top.
Tops of markets don't feel fucking pessimistic, haha.
They are wild and crazy and euphoric and feel like they will never end.
Not like how this current sentiment is...
And that tells we are so far from a top its amazing!
But you don't just have to take my word for it and believe my take on market psychology...
You can just pull up the TOTAL chart, check a few timeframes and layer over a few indicators and you see, very clearly for yourself, that under the hood... the market is telling you the same thing as the collective sentiment.
Much higher, for much longer.
Here are the facts:
1. Every time TOTAL has entered price discovery it has lasted at least 8 months. So far, we are only on month one. Price Discovery is classed as a price push higher that does not come back again to retest. The push up in November we a breakout, and a full retest lasting to April.(each previous cycle example has used the same principle).
2. The Monthly RSI has not even entered overbought territory this cycle, and each cycle, will finish with overextension, as you can see.
3. The Monthly MACD flipped back bullish and has a lot more room to move before reaching its peak.
Plainly put, we are not even close to the top of TOTAL, and it will not be happening in the next 2 months.
It's very clear. But lets forget about all of this for a second and take another approach.
Do you honestly think that the Crypto market has gone through another 4 years of market cycle, development, adoption, institutional participation and government adoption...
For TOTAL to only push 25% higher(as a breakout and retest only) than its previous high and enter another bear market? While all indicators remain totally cool?
You have to stop thinking with your emotions and allow logic to prevail.
When you check the data, understand the position and recognise where we are at...
Logic becomes very easy to believe.
And just how this cycle has caught many of us off guard already... the markets final trick will be the most devastating.
Shockingly Higher.
Shockingly Longer.