The perceived risk is easing as bitcoin shatters the $23k level. The SBT Risk Signal is decreasing fast after peaking, which in the past has led to a bottom and more stable price action.
In Uncharted 34 (from March 10th) we explored reasons for a sudden move up, despite the pessimistic newsflow.
Bitcoin’s momentum turned bearish at end of last week, but impulse suggests we are back at 0 or lack momentum. Slight bullish momentum was spotted in small caps as their high volatility is profiting the most from today’s systematic upward move.
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