Navigating Bitcoin's No-Man's Land: Patience or Opportunity

27/10/2024

OI remains high, even after Friday's flush out.

Looking at Bitcoin, the chart is neither distinctly bullish nor bearish; it's essentially no-man's land for short-term analysis.

Meanwhile, the rest of the market is taking a clear downturn, presenting a unique opportunity to whoever was previously eager to buy meme coins at higher levels, all while having a BTC breakout in mind.

If you were prepared to buy at price A, what's stopping you now with a 10-40% discount from that point? Alternatively, if you're a trend follower and you only invest in majors, note that most trend models remain long on Bitcoin.

Stick to your edges. Sometimes, patience is your best play in between.