Entering Price Discovery

Louis Sykes
November 8, 2021

Last week, we outlined that a big move was on the horizon, and the bias for prices over the coming weeks was higher. We were documenting the tightening volatility and the accumulation taking place on-chain, suggesting that upward price discovery was the most probable outcome.

Over the weekend, we've seen this play out in some respects, with Bitcoin breaking out of its tight range, which seems like the beginning of the next leg higher.

Now that Bitcoin is back above 65,000, we want to position aggressively long in anticipation of further strength into the remainder of the year.

 

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