Alright so this one is simple and straight-forward. The investment strategy is considered neutral because I would never want to be swing short bitcoin in a bull run.
Basically weekly RSI as it stands is above 84. I've highlighted the previous times this has happened going back to 2016 when it really started jumping out into the mainstream as it was in a wild bull run. Sentiment is a pretty frothy however, the media coverage and rhetoric now is in stark contrast to the 2016-2018 run. We went from bitcoin is for criminals to bitcoin is now for hedge fund managers. Can it keep running? Sure... but it wouldn't surprise me to see a 15-20% pull back. So it's not a bad time to consider either trimming up or start planning to buy some more as it dips.
Basically weekly RSI as it stands is above 84. I've highlighted the previous times this has happened going back to 2016 when it really started jumping out into the mainstream as it was in a wild bull run. Sentiment is a pretty frothy however, the media coverage and rhetoric now is in stark contrast to the 2016-2018 run. We went from bitcoin is for criminals to bitcoin is now for hedge fund managers. Can it keep running? Sure... but it wouldn't surprise me to see a 15-20% pull back. So it's not a bad time to consider either trimming up or start planning to buy some more as it dips.