Current market Sentiment.

I wrote a 2 days ago and I found the comments quite interesting.

I mentioned how I think we are “leaving” crypto winter and the community DID NOT LIKE IT!

I got destroyed and it was AMAZING! Thanks for the laughs!

Apparently, I am the new Jim Cramer. LOL!

In all seriousness, I found this information to be incredibly useful.

Let’s take a look at the current market sentiment combined with some simple analysis and try to figure out where we are in the cycle.

If we consider 68,000 USD the top of the previous cycle we have been in a down trend for 462 days as of today. I personally believe the down trend ended on November 8th.

If we look at the December 2017 crash it took 472 days until the first big move.

That move lasted 122 days and provided a 231% increase in the Bitcoin price.

This was of course followed by a blow off top and a massive 263 day down trend. Keep in mind, we did not set a new low. The Covid crash pulled the price down even further, but still did not set a new low.

I believe we’ve hit bottom, and we have a huge pump incoming with a Bitcoin target of 32-48k USD. This isn’t going to happen over night just like the crypto winter isn’t just “over” it’s all a process. We are still a long ways away from new all time highs.

I’m not going to bore you with the other T/A I’ve used to confirm this, as I know most people don’t care about that here.

The general market sentiment being still extremely bearish and fearful this also helps confirm my theory. Generally, as much as I love you Reddit. We’re historically very wrong.

Let’s hope I didn’t Cramer the hell out of you with the last post and things trend up soon.

And I know, I know, “Nobody knows shit about fuck”

What are your thoughts on this?