Following the descent channel since last may we could find many point to analyse. As every trade, you can choose to wait either that price go below the median line of channel before short or that price go over the support line, just to be sure that enter in a downtrend.
How will be satisfying see Eth copying the same pattern of previous cycle? I know it's impossible, obviously for the market cap that it should achieve, but in the long term i think it's really possible to see Eth price above 100k.
I'm very happy to have had a right view on this pattern because reflects sentiment and behavior on market partecipants. Wait for the real bottom, now we must only wait imo to enter again for a new long. How many days/weeks/months to wait? I don't know :)
Ok, here we are. Another time near 30k support. This time will be different or we see a mega bounce after reaching this level? Prepare yourself in any case.
Guys Ozark is so bad? What's happen in the market? New opportunity coming...
I have hidden the price chart to show similar pattern on 50/200 MA. Maybe can tell us something about short term price action.
I forgot to mentions this: maybe we will se a movement every cycle that bring the support a little more high?
In red you see resistances, in green supports. Just to let notice you. Obviously many of us hope that current market cap will bounce and find a support. :)
Many guru on Twitter told that we were on the red circle, i dont know why. It's obvious that chart has a different structure. Imo we are in a similar situation as evidenced in both yellow circle. What are your opinions about this?
Maybe someone don't understand my words: i'm bullish in long-term. In short term i try to understand the market to capture some good entry point in altcoins. The best advisor to find this point is Bitcoin. If hodler and whales continue to hodl and buy, we can move together on the next step and reach a new an great ath maybe following this different pattern? If...
So guys, we need to do some math because sometimes is powerfull. Since Bitcoin's born we have had 2 blow-off: - 2013 > x500 from previous low - 2018 > x200 from previous low If we consider 69k as current ath and assume to repeat the same bear market, we could have: 1) -70% fast as we have experiencing 2) -50% more slow Ok, now we could have an end of bear...
Following Wyckoff method we could be in Spring phase. Obviously if this is a reversal market: if the price continue in a downtrend and don't cross again my red line, i think we are in a bear situation (i don't see a bear market in a whale transactions...but i could wrong).
Many out there look only for 100k Btc, obviously i'm long on Btc from many years. But i'm also long on Sp500 so, when we will reach this glorious goal? maybe a little short is still possible.
When market and their partecipants create Fomo, volume obviously spike. When market is in a fixed range or in a downtrend, volume is low. Now we have a serious low volume in Btc market, this could be the mega accumulation for the next explosion?
Uni is a great project, I bought some at the end of the year, now I think it is appropriate to see if the support holds and then to think for a second entry.
I missed to Solana train last year so now i'm waiting a good point to enter for a medium term investment. The channel is still descending, is time to wait now.