In recent days, Bitcoin has been trying to rally and undo some of the 50%+ damage it has suffered since October. It seems that its last gasp of an effort was yesterday.
Indeed, just yesterday morning people were piling into Michael Saylor concoctions MSTR and STRC at “cheap” prices since they figured the worst was over. Here’s a Strategy update since twenty-four hours ago:
In the same timeframe, always-on-every-network Tom Lee from Fundstrat has been prancing from network to network talking about, as he always does, what a super-duper and scrumptious opportunity crypto is for his, umm, investors.
Yet my view, which has been red-eyed bearish for months, we have breached a crucial support level, and it could well be a free-fall from here.
Which, in turn, means that my BITI long idea is looking, as Mr. Lee might whisper it coyly into your ear, more scrumptious than ever.
