Currently, the 1-hour RSI of Bitcoin is <18!!!
Uncle Meow expects the price of Bitcoin and mainstream altcoins to rebound soon.
Taking advantage of this round of decline, let me explain the operating logic of bulls and bears:
1. Use leverage to sell off, harvesting the bulls who entered at the top (the decline we are seeing now)
2. After the bulls are exhausted, attract bears into the game, pushing the price up, market reversal (possibly directly shooting up like in 98/99k) until new short positions are stopped out or liquidated.
3. This “surge” will attract new bulls (using leverage) and then the price will reverse again, slightly below the previous low (possibly 95.8-96.0k)
4. After the leverage is cleared, what remains is usually bullish divergence positions within the mid-term time frame!
5. After the contract market is cleared, the vehicle becomes lighter, breaking new highs.
