As in the case of BTC we see an initial bounce-off the lower cost basis line and no unusal breakeven trading...It appears to me that the 'active' part of this market are very much 'hodlers' and to me this bodes well for a potential rally to the upper cost basis line.
If on the hand, I saw a lot of breakeven trading and new shorts enter the market then I would be more negative. Currently, I am long but cautious!
If on the hand, I saw a lot of breakeven trading and new shorts enter the market then I would be more negative. Currently, I am long but cautious!
