The always bullish Crypto community believe we are starting a wave 3 to the moon, however, zoom out to the weekly with Fib Pivots and you can see the possibility we are simply going to consolidate at the bottom of the bear market at least until the end of the year and probably well into next before we have a breakout. There has not been enough sideways boredom to shake out the week hands, 18 months in a tightening range will frustrate many and wick them out of positions.
Weekly RSI well overbought on a lower higher high gives credibility to this analysis.
Weekly RSI well overbought on a lower higher high gives credibility to this analysis.
Trade active:
watch out for a suckers rally, which may be profitable if you are willing to flip (should have done it already earlier today) before a final lower low.
Could be a slow grind higher before the final dip of a quick switch, who knows, so play the price not the time.
Could be a slow grind higher before the final dip of a quick switch, who knows, so play the price not the time.