There is more than $8 billion worth of bitcoin that is about to be sent out to Mt. Gox creditors.
Most are thinking this is a very bearish event.
While I do think it is bearish I don't think it is as bearish as some others do.
It may force us to break this trendline though.
(Source: https://x.com/TheMoonCarl/status/1808510256105894005/photo/1)
I think waiting a few weeks until after those distributions takes place is probably the best way to play things currently.