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Talk of Second Bottom based on SOPR Bands (Patreon)

Published:
2023-09-05 03:43:43
Imported:
2023-09

Content

Not hopium but some signal from on chain analytics

  1. Bitcoin's recent price action has been confusing for analysts, with a surge from $26,000 to $28,000 on August 29th, followed by a retracement to just under $26,000.
  2. Many remain hopeful that the bull market could resume soon, especially as Bitcoin is currently below key support levels.
  3. The recurring theme discussed is the possibility of a "bottom after the bottom," which implies a secondary bottom in data but at a higher price. This could present a last chance buying opportunity.

SOPR dips above represent that so called second bottom and we are here now. 

Files

Comments

Anonymous

I am trying to max my returns with few $ like so many others. Let me ask a provocative question to whoever is brave enough and kind enough to answer. I accept that any feedback is not financial advice but only personal judgment of non professional people who believe in themselves but can not predict the future. If you knew your expiration date was in 2025, maybe 2024 and you had scant resources say $25000 of a $160,000 portfolio of which $90,000 was locked until January 2024. Where would you put that money if your objective was to max your estate for your soulmate? Blessings to all

Anonymous

Nibbling still

Anonymous

Thanks for the great info James! Would love to receive your NFA on my situation. I achieved my goal of 300 shares of tesla and 400 SOL. I used to be a whole coiner but I was burned by Celsius. I'll most likely have 1/3 of a bitcoin and 1/3 of a "mining" company. Thinking about converting some of my tesla to be come a whole coiner again while at these prices. How would you approach my situation?

Anonymous
>>116817804

Imo TSLA would likely outperform BTC till year end and then BTC will outperform TSLA from start of 2024

Anonymous

This is not the bottom. We go down further. Rates higher for longer. Recession more probable. Btc as a risk asset will be hit. Still to much uncertainty to call a bottom I think.

Anonymous
>>116822641

Agree. Let's wait till China prints Evergrande back into the game. Atleast wait a bit more in September. Only buying when people are in real panic now. Liquidity is mega low now, surely it takes near to nothing to drop it. Same goes for price up. I nailed most bottoms. Call it luck, but you need to be patient and wait for abnormal wicks, not the regular ones. (My goals)

Anonymous

Can we have a couple of more bottoms this time? meaning influence of Black Rock etc

Anonymous

Looks to me like the SEC's strategy of approving specific products to control BTC has worked

Anonymous

Ye, at 15 also I've orders 10 also. Expect the unexpected. This is crypto..

Anonymous

i would love to see a retracement. I missed waiting for better, trying not to do it again...

Anonymous

Noob question - What are SOPR bands?