Market OverviewBTC: $79,016
ETH: $2,496
Fear & Greed Index: 71 (Greed)
BTC Dominance: 60.11%
The action around the lower boundary of the channel continues, which suggests that the market is still accumulating positions. The problem for me is the disconnect: on the one hand, it makes sense to assume that we're heading lower from here. Both broader market factors and now the chart pattern point in that direction. On the other hand, that would be the obvious answer, and another stop hunt on short sellers before the actual decline seems like a very plausible scenario (at least around the $80K level).To avoid guessing, I'll wait for a decision at least until tomorrow. On top of everything else, Fed Chair Kevin Warsh is scheduled to speak at the Jackson Hole Symposium tomorrow, and his speech could easily become the catalyst for the next major move.
