It seems goofy to spend so much time focusing on this $0 revenue, $0 profit, zero customer outfit, but it’s a powerful proxy for the animal spirits of the inexperienced traders out there. Looks like another U-turn has been complete.
While we’re on the topic of reversals, I also think Bitcoin has totally completed its recovery. The power of that Fibonacci level is plain to see. The next big move will be the resumption of Bitcoin sinking to its intrinsic value.