Please see my previous idea. Expected the short term drop the the lower low trend line as support.
Lower low trend line has held up incredibly well, expect the pivot up to 28k shortly.
It's possible that support is tested first to stop loss hunt and to fake traders into shorting to add liquidity on the leg up, so will DCA rather than stop loss.
I've been playing this scenario around a fair bit. I was hoping the horizontal SR would playout as a new support level. I'm still bullish long term, though the next strongest support zone from here is around 22k. The lower bounds of the ichimoku cloud are around this point, as is the higher low trend line.
$730 Ethereum feels like it's bear market destiny - though could it bottom at closer to $200?
In the bear market, Bitcoin typically falls -85% compared to it's all time highs. Altcoins such as Ethereum, typically fell to -95% of it's all time highs.
In this chart, I shows where those relative levels are. There is a significant difference between the two levels,...
The denominator (USD) is broken. As such, to see long term patterns, we need to look at BTC expressed in gold rather than USD.
With BTC the quote rather than USD, the INVERSE is what we're looking for when looking at BTCUSD highs. So the lows in PAXGBTC represent the highs of BTC.
