I am surprised by BTC not filling in the wick to ~42k.
It acted to frustrate everyone maximally, noted.
So Q12022 is where we find out what's what.
Since retail is out of the BTC market, will institutional allocations change the character of the market with overwhelming buying pressure? We will know very soon. It's the last narrative that will happen "soon". I don't know of another bullish narrative that necessarily has to happen anytime soon.
Anyway, what does the chart say? It says breakout, overhead resistance on long-term bull market trend, support on the previous downward channel. Breakout of declining RSI trend, with successful backtest. Still less volume than one would like but it looks ok.
BTC is not dead. And money can be made in crabbing markets. As you know, the biggest risk is missing the upside by not being in the market.
Remember, every time you read "The Tortiose and the Hare" - the tortoise wins.
@Saghar13, It doesn't appear that way right now. We are so close to the new year what we need to see is if institutional allocations are going to be a reality. If not, then assuming we crab, it's not clear to me where the bottom of the crab range will be just yet... 42K ? 36K? 30k?
Saghar13
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@culbert425, I hope we go up and finish the new year with a green candle