So here's my worthless $0.02
Very short term (now till mid February)
We will continue to trade sideways Probably another 1 or 2 real rough days over some bullshit. We will get a couple fake outs like at 9:30am est when markets open price will quickly jump up by a good grand or 3 in 5 to 10 min. Then it will slowly sell down to a little lower than where it started in the morning.
We will also have some flash declines probably like 2 to 6 grand drops in 15 to 30 min based on some bullshit news about Biden , Russia , Arizona, and another turned down ETF.
These will be randomly happening throughout the next 2 weeks. People will be losing hope and getting frustrated.
Slightly short term (mid February till mid April)
People will start receiving their tax returns. This time there will much more (smart consistent buying) more limit order strategic purchases. There are many more people that have been around for at least 6 months than there was last years raw buying. Last year was much more FOMO and loose change in peoples pockets riding that train up.
I think brand new buyers will be sitting on the sidelines kinda waiting to see what happens when they get their chunk from the IRS. Let's face it , it's much easier to jump in when the shit just doesn't seem to go down. That's what people were experiencing last year when they "ran into extra cash". Now you got countries banning it, some adopting it. Media saying it's junk, yet rich " smart" celebrities and even companies buying it. People are fucken confused. They don't know what to believe.
They want to believe their role models, and even wealthy business men and women like O'Leary and Cathy Woods (who's actual job is to make financial investment decisions) not just some basketball player or movie star. But yet they still have something in the back of their head asking themselves " Can I trust them ? Or are they in on it too?" The general pubic right now doesn't know who to trust. They feel lied to, manipulated, and feel like pawns/sheep. Everything in the past 2 years, it's overloading people. They feel alone and vulnerable.
This ^ is exactly why I'm buying as much as I can. Whenever I can. May not be alot to some, but to others it would be a healthy stack. I know I'm not alone in this. That said .......
Institutions will be surprised/impressed with the amount of "buying the dip" retail and small accounts do. Slowly we are going to chip back, it's going to be a battle but then after a few weeks of holding the line, the sideliners are going to step in, but they are going to go in hard with FOMO. (First 2 weeks of April). This will heavily overwhelm the selling pressure and the price will make a very sharp climb. When it does, those in the space will be cautious, they will either get out to break even cause they bought at 60k last year, or they will pull some of it out. These will be the people that will panic buy back in when it is still climbing. Not sure about 100k. Maybe , maybe not. Would be cool to see.
From there idk....lol Could go either way I guess. Wash and repeat every few months
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