As long as the DUA continues to remain so uncharacteristically low as it is today I would not expect to see real recovery until that metric begins to creep up again. I wrote about this a couple of days ago and it is still down. Hopefully, many are reading till the last line to note that the bull trap scenario continues to be in play. It is possible that the bottom was already in but the price continues to be quite heavy today compared to its established value trend of 9 years. I believe there are some deep fundamentals that characterize this, which is captured in sentiments, and then gets expressed in the charts.
Bitcoin Breakout IMMINENT! Where will it go?! https://steemit.com/bitcoin/@investingtips/imminent-long-term-break-out-up-or-down-for-bitcoin-this-is-a-pivotal-moment
As long as the DUA continues to remain so uncharacteristically low as it is today I would not expect to see real recovery until that metric begins to creep up again. I wrote about this a couple of days ago and it is still down. Hopefully, many are reading till the last line to note that the bull trap scenario continues to be in play. It is possible that the bottom was already in but the price continues to be quite heavy today compared to its established value trend of 9 years. I believe there are some deep fundamentals that characterize this, which is captured in sentiments, and then gets expressed in the charts.
Valid point...great article...