To be clear, this is not a call for a dump. Hope for the best, plan for the worst (buy the dip).
Bear observations
> strong bearish engulfing pattern
> price moved into extremes > 3 std. deviations
> possibility of mean reversion
Case to buy the dip at the 33k level
> 4 levels of confluence
1. Demand Zone
2. 50% fib retracement level
3. Channel mean
4. EVWMA perfectly lined up with regression channel mean
Excellent level for a heavy reload.
Reminder; this is not a call to short the market.
Buy discounts in this bull market.
Bear observations
> strong bearish engulfing pattern
> price moved into extremes > 3 std. deviations
> possibility of mean reversion
Case to buy the dip at the 33k level
> 4 levels of confluence
1. Demand Zone
2. 50% fib retracement level
3. Channel mean
4. EVWMA perfectly lined up with regression channel mean
Excellent level for a heavy reload.
Reminder; this is not a call to short the market.
Buy discounts in this bull market.