Papi
Record Consolidation .. Do We Have Escape Velocity?
2024's Nope Zone is undefeated. For now. Will this time be different? It is the first time on the 4d we saw successful price retest above Nope Zone. OI is very high, net flows are trending weakly bullish on spot, and neutral on derivative exchanges, ETF flows are bullish, but they also tend to be at key resistance (human psychology). In my perspective, even if we don't breakout this time, we are getting very close. Any reject should be short-lived: ~$60k and mid $50s are both strong supports. In any case, just keep stacking and forget about the short term noise. Most on-chain metrics support the mid cycle consolidation thesis; and its an incredible consolidation and compression, you don't want to miss the explosive breakout when it finally happens. Dollar Cost Average into spot has been, and will continue to be your low risk friend.