The first price discovery phase ends, onwards to the next!

BTC: $35,269
OBTC: $14,202
VG: 7.95

As expected (Are we nearing the end of price discovery: part 1? | by OBTC | Jan, 2021 | Medium) the Part 1 of price discovery is now over. We speculated it would be either a swift correction or a sideways grind. A swift correction it was — matching up with historical trends.

Our bottom target of VG ~7 (identified here: Getting warm: $13,432 / 8.75. BTC: $39,215 OBTC: $13,432 VG: 8.75 | by OBTC | Jan, 2021 | Medium), currently at $30,100, has also been aggressively frontrun — a solid confirmation that we remain on track. It’s definitely worth keeping in mind that the days following a significant correction will often see very high volatility, so it’s important to stay resolute or take advantage of it.

Now, it’s just a waiting game for the markets to settle (we’re seeing some temporary uncertainty outside of crypto too) before resuming price discovery. When and how that will happen, remains to be seen. As always, we’ll be here assessing the here and now every step of the way.