Bear Flag Fractals
Everyone is looking at the second bear flag in 2022, and anticipating another repeat of history, and lower prices to follow. History rarely repeats, but it can often rhyme.
G’day Folks,
I’ve mentioned in the past that I deleted X from my phone several months back (which I highly recommend doing). As a result, I only scan my feed briefly every couple of days, and this has given me an interesting lens into how quickly narratives shift.
Two weeks ago quantum computing would kill Bitcoin. Last week, Jane street was manipulating Bitcoin. Neither of these narratives were anywhere to be found this morning.
This week, one of the hot new topics is doom-merchants pointing to the second bear flag in 2022, deeming it the same, and suggesting Bitcoin is due another trip lower to visit Hades below $40k.
Today’s report will be an assessment of where this fractal may be a fair comparison, and where it diverges from today’s structure. I will also include my current assessment of Strategy (MSTR), as many have asked me when I will be allocating my second tranche, and I’d like to explore conditions which would have me doing so.
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