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Consensio: P > S MA > M MA > L MA (just made golden cross)
Patterns: Phase 7 hyperwave | A&E
Horizontals: R: $3,890 | S: $3,860
Trendline: At $4,642
Futures Curve: Spot < March < June (is there a name for that?)
BTCUSDSHORTS: Trying to double bottom
Funding Rates: Longs pay shorts 0.01%
TD’ Sequential: G4
Ichimoku Cloud: Looks like a bullish kumo twist is incoming
Relative Strength Index: Rolling over at 70
Average Directional Index: Will it create higher high?
Price Action: 24h: -0.4% | 2w: +12.1% | 1m: +5.6%
Bollinger Bands: Full candle above top band
Stochastic Oscillator: > 80
Summary: It has been a very long time since the crypto markets were this interesting to me. Bitcoin has an incoming monthly Stochastic buy signal under 15 which has only happened one other time...at the bottom of the 2015 bear market.
This is very hard surprising to me as I did not feel the fear of capitulation and therefore would have a very hard time believing what that is telling me. I firmly believe that emotional analysis > technical analysis > fundamental analysis. Therefore I am holding onto significant suspicion when analyzing the technicals due to my firm belief on where the emotional state of the market is.
The technicals on alts are also much more bullish than I want to believe. They are checking all of the boxes to make me think a full on alt season is around the corner.
ETHBTC Monthly
This is the single most bullish chart I have seen in crypto since 2017. A monthly stochastic buy signal under 20 is one of the most potent ways for me to recognize a bottom. The fact that it is coming right after a monthly red 9 has me very, very interested.
I have been so bearish for so long on alts that this is difficult for me to wrap my head around. How could we possibly get an alt season while BTC has so much over resistance and is showing strong signs of a continued bear trend (200 day EMA and 50 W MA are as bearish as it gets).
This is when it is very important for me to trust in the technicals and also prepare for every situation that I can imagine, such as an alt season in the midst of a bear market - something I previously thought was close to impossible.
ETHBTC Daily
The Daily looks like it could provide a very nice entry over the next couple days / weeks. If we pull back to the 50 EMA, find support and then go on to make a Golden Cross then I will be ready to bet big.
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