#Bitcoin is flat so far today and also flat across the weekend. This is a relatively strong performance when the US-Iran conflict has caused the big drop in the #stockmarket .
I haven't read yet but I imagine there will be narratives starting on social media that BTC $BTC is store of value and digital gold. Whilst I am a BIG believer, and do have a long term positition, it is NOT yet a safety hedge. All of crypto is still in the risk asset category but maybe the selling pressure is running out.
I have also talked about the absorbtion happening at these levels and there were a lot of shorts opened on the weekend but so far they are also being absorbed. I remain long and looking for the short term break up from the downsloping parallel channel.
