*THREAD*

Notes from Market Wizards that help to confirm and solidify some of the recent price action and negative news stories on $BTC.

Looking into the thoughts of top traders and a stock reaction to positive and negative news.

Let this information guide you in the future.

"When the market gets good news and goes down, it means the market is very weak; when it gets bad news and goes up, it means the market is healthy."

"On the public’s biggest misconception about the markets: people always expect the market to react to news. For example, when JFK was assassinated, the market initially broke very sharply, but then quickly rebounded to new highs."

"They failed to realize is that a market that is fundamentally and technically poised to move higher is not going to reverse direction because of a news item – even a dramatic one."

"The best trades are the ones in which you have all three things going for you: fundamentals, technicals, and market tone. First, the fundamentals should suggest that there is an imbalance of supply and demand, which could result in a major move."

"Second, the chart must show that the market is moving in the direction that the fundamentals suggest. Third, when news comes out, the market should act in a way that reflects the right psychological tone."

"For example, a bull market should shrug off bearish news and respond vigorously to bullish news. If you can restrict your activity to only those types of trades, you have to make money, in any market, under any circumstances."

"Valuable indicators: if a market doesn’t respond to important news in the way that it should, it is telling you something very important. Secondly, when a market makes a historic high, it is telling you something."

"No matter how many people tell you why the market shouldn’t be that high, or why nothing has changed, the mere fact that the price is at a new high tells you something has changed."

"When the news is wonderful and a market can’t go up, then you want to be sure to be short."

Absorb this information, years of experience, years of market ups and downs, understanding and appreciation of the conditions required and underlying strength across multiple assets.