The bounce of Bitcoin

I have been expecting a bounce in BTC

and tech stocks (QQQ) for 2-3 weeks now. Last

Friday QQQ closed at a upward hammer, and the

VIX and NDTH all reached levels that indicate a

bottom. So I think odds are good stocks can

bounce up next couple of weeks. With BTC, the

chart is not as bullish as QQQ on the weekly. But

there are a few things that makes me think we

will get a bounce next 2-4 weeks. First, the

whales on Bitfinex are at HISTORICAL LONG

position on Bitcoin now. As you can see on this

chart, the yellow line is the BTC long position on

Bitfinex, and to push it up that high, usually you

need whales to do it, and they are buying so

much more than at any point than in the past few

years. So that means they think that 24/25K

bottom on Bitcoin is real. And I have marked out

in green the times in history when the Bitfinex

whales were very bullish, these tend to be major

bottoms! They're less reliable at predicting tops,

but the bottoms are pretty accurate it seems. So,

if you did DCA in at 24-28K, then it seems the

whales agree with you that was very likely a

bottom. At 31k now, if you want yo go long it's

obviously more risky, and depends on the stock

market. I have been expecting the market to

bounce and think that it can go higher, to touch

40K likely. But the odds are not as good now as it

was when it was below 28K. If you have positions

or is holding onto losses, then think about selling

the bounce rather than adding more risk to your

position, Not Financial Advice!