Bear Flag Break
Every analyst is looking at the very same bear flag pattern...and as Bitcoin pokes its head up above $80k...many are now scratching their heads, unsure what to do next.
G’day Folks,
Every man and his dog has been drawing the same lines on charts, sketching the same bear flag, and predicting the same bear market as every other bear.
In my experience, this point in the bear is the hardest.
The bearish thesis is being tested right now, as price starts to invalidate the upper bound of the most obvious ‘bear flag’ ever drawn with crayons.
The bulls are getting increasingly hyped, but this is the exact moment when they pour in all their remaining cash…and it turns out to be just another lower high.
For the more cautious and moderate bulls among us, many are looking at the current $80k price, and wondering if they missed the bottom, but don’t want to get caught buying yet another local top.
This part of the bear market is the hardest, because it is the moment when everyone’s market thesis, and our conviction it gets tested.
In today’s post, I will share my thoughts on whether this bear flag structure is still valid, and how I approach the ‘investors-trilemma’ above. I’ll share my personal strategy, which is based on my experience buying not enough at past bottoms, as well as chasing rallies which I shouldn’t have chased.
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