It looks like we are making a plateau in the sentiment after which the sentiment should start increasing. The price of bitcoin has almost reach the 61% retracement from the last impulse to 10500. This represents a good opportunity to enter the market and exit if sentiment data start deteriorating together with the price. The upside potential is huge if we follow the stock to flow model described elsewhere.
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Note
When we zoom in, we see a nice retracement reaching the the 0.61-0.5 zone:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.