I revisited the resistance for the previous bearish trend of 2017, and found something interesting (but also frustrating, because it means we have to wait a bit longer!)
I modified the resistance to represent what someone would have seen around mid August, and noticed that the piercing of that bearish trend looks a LOT like what happened when we hit .75 last month. Following that comparison, I saw that there were many similar signatures to the transition out of bearish trend and into what became a huge bullish move.
Long story short, the bearish push of the last couple weeks proved that the timeline of EOY lambos is sadly not going to be a reality, short of a massive announcement. That said, it does look to me as if we're playing out pretty closely to what we saw in 2017 in the run-up to December, but more drawn out (and I believe, a bigger boost in the end).
Let me know your thoughts!
I modified the resistance to represent what someone would have seen around mid August, and noticed that the piercing of that bearish trend looks a LOT like what happened when we hit .75 last month. Following that comparison, I saw that there were many similar signatures to the transition out of bearish trend and into what became a huge bullish move.
Long story short, the bearish push of the last couple weeks proved that the timeline of EOY lambos is sadly not going to be a reality, short of a massive announcement. That said, it does look to me as if we're playing out pretty closely to what we saw in 2017 in the run-up to December, but more drawn out (and I believe, a bigger boost in the end).
Let me know your thoughts!
