Long term analysis using godmode as the basis
the (2) white arrows from 2016 correlate to the the (2) white arrows shown currently through the relative similar structure that is forming on the godmode indicator.
the Orange arrow from 2019 is used to show the accuracy of godmode as it clearly called the bottom during that phase of the market as shown by the caution dots and rejection out of the bearish control zone leading to the next run up to 14k.
focusing on the white arrows from 2016 VS the white arrows shown on our current time frames in 2020, we can see a very very similar signature lining up here.
The energy is back above the neutral zone in both scenarios, as well as all leading indicator lines sloping upwards poised for continuation.
based on the positioning of the indicator we can see that there is significant room to the upside (especially since this is on a monthly TF)
With the daily golden cross confirmed and tested (50EMA crossed up and over the 200EMA) as well as the 2day golden cross confirmation - there should be no reason to see price action break below the 8K level anytime soon (if ever again)
In this immature market we can still expect massive volatility and wicks to the downside which i only see as strong buying opportunities.
I'll post some shorter term ideas with entry & exit targets that will correlate to this chart in the next few days
Until then,
Safe Trades & Happy HODLing
the (2) white arrows from 2016 correlate to the the (2) white arrows shown currently through the relative similar structure that is forming on the godmode indicator.
the Orange arrow from 2019 is used to show the accuracy of godmode as it clearly called the bottom during that phase of the market as shown by the caution dots and rejection out of the bearish control zone leading to the next run up to 14k.
focusing on the white arrows from 2016 VS the white arrows shown on our current time frames in 2020, we can see a very very similar signature lining up here.
The energy is back above the neutral zone in both scenarios, as well as all leading indicator lines sloping upwards poised for continuation.
based on the positioning of the indicator we can see that there is significant room to the upside (especially since this is on a monthly TF)
With the daily golden cross confirmed and tested (50EMA crossed up and over the 200EMA) as well as the 2day golden cross confirmation - there should be no reason to see price action break below the 8K level anytime soon (if ever again)
In this immature market we can still expect massive volatility and wicks to the downside which i only see as strong buying opportunities.
I'll post some shorter term ideas with entry & exit targets that will correlate to this chart in the next few days
Until then,
Safe Trades & Happy HODLing
Comment:
.......we have only just begun.......looking forward to the one year anniversary of this chart in about 2months......