Now that we have seen a light selloff, the market for Bitcoin is starting to turn more bullish in my view.

Bullish:

More short liquidations than long liquidations
Stock market insiders turned bullish on Friday May 20th and are now buying more than selling
Options max pain is at 34k
Retail still buying lots of puts on options
Open interest has fallen lightly into the decline which began the 19th. Open interest also rose when price rallied on the 18th

Bearish:

I am not seeing any good bearish signals at the moment (none that I watch). It seems like a great time for longs!

It’s worth noting that price *probably* won’t move down to my entry. It’s more likely to just keep ripping upwards, but it’s worth being patient and seeing if we get a fill. Risk of missing out is no risk at all.