Seller Exhaustion
Eventually, there are just no sellers left.
G’day Folks,
It has been an eventful week, with markets trying to price in a de-escalation of the US-Iran war…followed by re-escalation…and then de-escalation…it all depends on which hour it is then you check the news.
Bitcoin has been in chopsolidation mode throughout the entire process, with prices going absolutely nowhere, irrespective of the headlines that surface.
As of this morning, the corn is hovering around $72k, which is nearing the top of the trade range, and is starting to look like it may want a run higher towards the $80ks.
Today’s post will be a breakdown of the market conditions as I see them, and with a particular focus on the point of seller exhaustion.
I will discuss my current bear market thesis in full detail, and document the fundamental reasons why we may, or may not have reached genuine seller exhaustion.
This matters, because when there is nobody left to sell, the market only has one way to go.
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