We have not yet exceeded the longest bear campaign, coming in at 3d 16h. Not in price, or time. Both have nearly the same price decrease the left one $1009.5, and the right being $1010.
What does this mean?
A solid sell rule is to sell if a bear campaign exceeds the longest bear campaign before it.
This means exceeding in price decrease or time of decrease.
So far, we haven't, all is ok. But breaking the most recent bottom would trigger that sell rule. If we break that bottom, then we'll go down hard, if we don't -- to the moon
Comment
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As of now, what's shown in purple is a double top but with one higher than the other. Since the 2nd top is higher, this does not confirm a double top. Only a break of old bottoms and tops would confirm that. Not expecting that to happen, but it's possible.
In short, the trend is up (4 consecutive weeks up), so probability leans there. On the other hand monthly cycles would suggest a bearish month coming. Conclusion: Place a stop loss. Thanks for reading! :)
As of now, what's shown in purple is a double top but with one higher than the other.
Since the 2nd top is higher, this does not confirm a double top.
Only a break of old bottoms and tops would confirm that.
Not expecting that to happen, but it's possible.
In short, the trend is up (4 consecutive weeks up), so probability leans there.
On the other hand monthly cycles would suggest a bearish month coming.
Conclusion: Place a stop loss.
Thanks for reading! :)
Since the 2nd top is higher, this does not confirm a double top.
Only a break of old bottoms and tops would confirm that.
Not expecting that to happen, but it's possible.
In short, the trend is up (4 consecutive weeks up), so probability leans there.
On the other hand monthly cycles would suggest a bearish month coming.
Conclusion: Place a stop loss.
Thanks for reading! :)