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These are short term sell or profit taking levels, eventually one will mark the top of the retrace that we all know is coming. Of course if you are long term it doesn't really matter.

Mark, I notice there is no ROC on your chart. Is this version the one that just used a fixed value for the advancing issues? (1450? - 1850?, I forget)

I adhere to this narrative...

Looks like it has gone around 20% above your bands a couple of times. We'll just have to watch and wait what happens this time.

Follow up

Lets see if my short term BTC Top Finder pegs this one or gets blown out by a Naysayer Bear Crushing Rally from Hell. Vwap from lows with 2 std dev (green) and a 24 hour ATR (yellow) added to the std dev.

This one's for you Rickshaw Man Vanna/Charm flows drive major flows in SPX. These flows are hedged by banks & naive primary dealers on the open of US trading & into close. Algos & European traders front run these flows starting around 1am CST to sell on US Open

I don't think Linda Raschke and Al Brooks are in the same league.

A couple of BTC market profile charts I am looking at; 20, 5 & 1 day side by side and 20 days of daily profiles...

The world has so much excess wealth it doesn't know what to do with it. Some flows into yachts that never get used, art that is never looked at and bitcoin as a hedge against the devaluation of fiat. Whether it is useful to you or I doesn't really matter. Bitcoin is a reality that exists...

The comments were extremely entertaining. From irrational crypto pimps to devastating common sense one liners. Good stuff!

Stanley Druckenmiller joins the BTC bull camp.

I want 0% interest rates and all debt can be renegotiated!!!!!

Just buy the shittiest stocks in these sectors: Airlines, Hotels, Cruise you name it

Cool site. https://bitcoinflow.io/ From the developer of the site. "When ITM calls start taking profit at a macro resistance level, we're going to pullback. I close out positions whenever they do this".

Your statement regarding bitcoin's need and survival was referenced in centuries. Changing the context to only modern times (post internet) shows a lack of linear thinking. Yes, a large portion of the world does not need bitcoin and yet most governments are working on a digital currency and a...

A supply crunch is a problem for anything that is desired, needed or otherwise, unless you are a seller. You could say this about the internet as well. Suicide based on real or perceived financial stress is not a Bitcoin thing. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3213334...

Again, it was a hypothetical example. Just looking for viewpoints on if one entity (either a Trust or a Country) holding a large percentage of available BTC changes its dynamic. You have made your viewpoint clear - it will just increase price and nobody should consider anything else.

60% or 70% was a hypothetical for you. I get it, you have no problem if China owned 60% or 70% of Bitcoin or any other entity for that matter. Not that we are there yet but whenever ownership of anything becomes concentrated it's always an area of concern. Politics, diamonds, drugs, information...

Well, at the rate Grayscale's AUM are increasing I don't think it will be long before they hold 5% They also hold 2% of Ethereum and growing.