Hi guys!
Last days were not kind. FUD, more FUD and even more FUD. Elon, China, US govt...
We hoped $42k was the bottom. And later we were buying at$30k...
So now everyone is convinced that this bullrun is over.
Well, it's possible, nobody knows for sure.
But let's try to focus on this hypothetical situation it's just another dip. The final one. Yes, for the last time :)
So look at the chart. I've marked with navy lines the last two previous bullruns from 2013 and 2017.
We're still averaging these two charts, moving somewhere between these two.
Up to this very moment we were following the 2017's bullrun (lower navy price line).
But now it's starting to look more like in 2013, just in different timeframe, so I've adjusted this price action.
It's marked with purple line and fitted to the last dip. So it's just hypothesis but what if?
What if it's not over yet?
Assuming so we're going to have sideways trend for the next weeks or even months, but then... possible run for another ATH.
I also marked with the green box this year's demand zone. Everything below $30k was bought since this January.
RSI is still falling down. Price should go up to 40-50k and float at these levels. In this case we're going to have RSI bullish reversal divergence.
So perhaps it's not the time to stay bearish?
Warren Buffet once said to be “fearful when others are greedy, and greedy when others are fearful".
We must stay focused and trade with caution!
Last days were not kind. FUD, more FUD and even more FUD. Elon, China, US govt...
We hoped $42k was the bottom. And later we were buying at$30k...
So now everyone is convinced that this bullrun is over.
Well, it's possible, nobody knows for sure.
But let's try to focus on this hypothetical situation it's just another dip. The final one. Yes, for the last time :)
So look at the chart. I've marked with navy lines the last two previous bullruns from 2013 and 2017.
We're still averaging these two charts, moving somewhere between these two.
Up to this very moment we were following the 2017's bullrun (lower navy price line).
But now it's starting to look more like in 2013, just in different timeframe, so I've adjusted this price action.
It's marked with purple line and fitted to the last dip. So it's just hypothesis but what if?
What if it's not over yet?
Assuming so we're going to have sideways trend for the next weeks or even months, but then... possible run for another ATH.
I also marked with the green box this year's demand zone. Everything below $30k was bought since this January.
RSI is still falling down. Price should go up to 40-50k and float at these levels. In this case we're going to have RSI bullish reversal divergence.
So perhaps it's not the time to stay bearish?
Warren Buffet once said to be “fearful when others are greedy, and greedy when others are fearful".
We must stay focused and trade with caution!
Trade active:
We're still following this pattern so I've updated the chart here -
