In this first installment we'll be breaking off the first piece of our complete analysis. These bite-sized chunks will ensure that each segment remains coherent and digestible. The first thing I want to think about is the length of time of "rounding tops".
Each of these rounding tops is angled upward from end to end. If you scroll back on Bitcoin you'll see another 40 day rounding top, and it was a nightmare (or a dream depending on your strategy). It's important to note that the off-screen rounding top I'm talking about had a downward trend from end to end. The top rounded downward. So it's no surprise that after the 40 days, when the top let out, it fell off a cliff hard.
Our latest rounding top is at 40 days, but the trend is angled upward from end to end. It's a strong-looking rounding top but that doesn't mean there won't be a 20 or 30% drop starting tomorrow. Either way we'll DCA so although I'm personally anticipating a large pullback, if it fires up to new magnitudes we'll profit then as well.
Each of these rounding tops is angled upward from end to end. If you scroll back on Bitcoin you'll see another 40 day rounding top, and it was a nightmare (or a dream depending on your strategy). It's important to note that the off-screen rounding top I'm talking about had a downward trend from end to end. The top rounded downward. So it's no surprise that after the 40 days, when the top let out, it fell off a cliff hard.
Our latest rounding top is at 40 days, but the trend is angled upward from end to end. It's a strong-looking rounding top but that doesn't mean there won't be a 20 or 30% drop starting tomorrow. Either way we'll DCA so although I'm personally anticipating a large pullback, if it fires up to new magnitudes we'll profit then as well.
Comment:
Analysis Part 2:
