Read chart from left to right to understand the market cycles and my assumptions. I'm also assuming the market timing for bottom will be very similar to 2014/2015 cycle. This of course doesn't have to be the case. Please read my other publication recently on TA Fake News.
I'm projecting that we'll get a green buys on the monthly stochastic indicator at March and Sept time frames that were similar buy zones in 2015.
I'm trying to illustrate here that patterns have the tendency to repeat themselves and, of course, we could fall much further. However, based on RSI I do believe the market is telling us that we are closer to the bottom than ever before!
So you have to decide what kind of trader you are. Are you a long term investor with 2-3 year time horizon or are you a short term profit taking. If long term this could be a great time to start accumulating.
Be well and trade safe. Always look for interesting prices to buy with a proper risk mgmt strategy. The goal is to trade so that you're in a position to move stops to break even level more times than not...trading for free is the most profitable strategy!
Regards,
Bobby Don't hate the hair, hate the game.
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yesterday's publication about TA Fake News.
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It will be interesting to see if the stochastic begins to flatten out over the next month. BTC bulls really need to really above 4,250 and then to 5k for this to happen.