X @Raoul Pal

Market Analysis & Technical Indicators - Bitcoin is forming a broadening wedge pattern, typically a bullish setup [1] - The bull market is officially 2 standard deviations oversold on the log regression channel [2] - Bitcoin's Bollinger Bands have only been this tight three other times in its entire history, indicating a mega low-vol environment [2] - Bitcoin's Bollinger Bandwidth was less than or equal to 22, with extremely positive forward twelve-month returns historically [3] Volatility & Investment Strategy - Bitcoin is a 70-vol asset, requiring investors to handle high volatility [5] - Extending the time horizon is crucial to surviving the volatility, turning it into an opportunity [6] - Embracing volatility allows investors to add to their conviction [6] Outlook - The industry view remains that Q4 will be bullish [7]