Crowd Leaning Too Hard in One Direction? Know What Comes Next!

🗣️ There have been two major bursts in social media in the past 2 weeks that influenced the direction of crypto prices:

📈 November 13th: Both buy calls and sell calls surge as Bitcoin jumps to a then all-time high above $92K. Due to the high calls for profit taking, this surprisingly doubtful crowd sentiment overrode the euphoria, and allowed key stakeholders to push prices even higher.

📉 November 21st: Bitcoin reaches its new all-time high above $99.5K, and the euphoria is nearly as loud as the week prior. However, the doubters and FUD that existed back on November 13th wasn't nearly as high. This indicated that the sentiment was much more positive overall this time around, thus creating ideal circumstances for prices to retrace and signal to key stakeholders that they could buy back at lower prices.

Prices move the opposite direction of what the majority believes will happen next. Take advantage of moments where your timeline is full of overly eager (or overly jaded) traders who believe their theories are a "certainty". Counter trading the crowd using sentiment metrics continues to be a reliable way to find optimal buy and sell opportunities. 👌