This is a SCHIFF pitchfork which has held up well.
Definitely in the accumulation zone now. Will the FED's interest rate hikes kick in next year and invalidate this? Let's see.
My guess is BTC will decouple eventually. It will also be the first to recover. Maybe even months before a stock market bottom which is months before housing market bottoms.
Regardless, any DUMPS from here on out are primetime DCA zones. If you like to wait for the tend to change, you can wait another 3 or so months.
PS- Miner capitulation has started according to the HASH RIBOONS indicator.
Definitely in the accumulation zone now. Will the FED's interest rate hikes kick in next year and invalidate this? Let's see.
My guess is BTC will decouple eventually. It will also be the first to recover. Maybe even months before a stock market bottom which is months before housing market bottoms.
Regardless, any DUMPS from here on out are primetime DCA zones. If you like to wait for the tend to change, you can wait another 3 or so months.
PS- Miner capitulation has started according to the HASH RIBOONS indicator.
Comment:
Just a quick update to the previous idea post. We have gotten out of the deep accumulation zone. Pullback area is the orange .618 fib around 24-25k.