BTC and the Rolling 50d EMA
We broke through the 🔵mark, indicating that Bitcoins price moved 1 standard deviation below the 50d EMA
At the time of breaking through that 🔵mark BTC's traded value was at the tail end of its distribution curve.
The path of least resistance
Aside from using quant methods to apply a DCA strategy, it is important to note the risks in the macro world.
The current credit distress is unfolding, and the baton is passed down to the most illiquid markets. This however..
does not change my conviction in Bitcoin
It is just important to see that we are in a different secular environment, the heuristics individuals built
A huge level of excess demand needs to be choked off and that distorts this immediate stimulus response
Which has historically juiced the stock market, bonds, commodities etc. An environment we have been conditioned to as a response mechanism for the last 40 years
Just important to keep your heads up and understand the current secular novelties we are currently experiencingThis post is based on this twitter thread.