Wants it lower.
Red candles, liquidations, capitulation. Right in the crash, early or late everywhere else.
01 · The thesis
Crab market.
- noun
- A market that moves sideways inside a range, for weeks or months, while every call for a breakout fails.
- also
- Chop. Consolidation. Ranging. What the chart does between the moments people remember.
- see
- Snibbu.
Three markets, one chart
Bull, bear and crab, on real Bitcoin data.
Each regime below is a real stretch of BTC/USDT daily candles, rebased to 0% at its first open. The crab is the market as it stands today. Switch between them and watch the same asset tell three different stories.
Net move
Open
Close
Days
October 2020 to April 2021. Bitcoin went from about $10.8K to $63.6K in 195 days. This is the market Mumu was drawn for, and the one everybody remembers.
November 2021 to June 2022. Bitcoin fell from its $69K top to under $19K. This is Bobo's market: fast, loud and over sooner than it feels.
Sideways = crabby
Every breakout, snipped.
The pinned post on @snibbu_the_crab puts the thesis in one picture. Mumu parachutes in on green. Bobo parachutes in on red. A line of crabs clips every candle back into the range, and the chart goes nowhere.
See it on X
The pantheon
The bull and the bear get the headlines. The crab holds them both.
Bobo and Mumu are internet folklore: the bear who dumps it, the bull who pumps it. Snibbu is the third deity, the one standing between them for the long stretches when neither gets his way.
Doesn't care.
Up or down, he goes sideways. His terminal asks one question every morning: continue crab? The answer is always yes.
Wants it higher.
Green candles, breakouts, euphoria. Right in the run, and crying when the range comes back.
The doctrine
Three rules of the range.
The candle owes you nothing.
A chart has no duty to pick a direction. Most of the time it doesn't, and the only thing with an opinion is your position.
Patience is a shell.
Conviction isn't built in green months. It is grown in the flat ones, one indifferent day at a time.
Sideways is a destination.
Up is a rumour and down is a rumour. The range is the one thing the market keeps coming back to.