We can see a fractal from June 2016 and June 2017 that might be repeating here. The price is breaking up from a triangle just to return below the bearish trendline for final capitulation. I wouldn't put targets here because fundamentals are different after all this time, which could affect the exact bottom. The overall lesson is that the bear market is not done yet and whether organic or manipulated, the bottom is not in yet.
Comment:
Judging by the chart alone $4900 is a very clear target because of the obvious support line. I don't see us stopping if we get lower than $5900 (the previous low of this phase).
Comment:
This is playing out nicely. I'm not catching knives on this way down to play bounces, the market is far too weak.
To be clear, I'm not shorting either. Sold spot at $9,990 and waiting for the final capitulation.
To be clear, I'm not shorting either. Sold spot at $9,990 and waiting for the final capitulation.