Every week chart presents a new data and there are more reasons to believe that we already saw a final capitulation.
1. By now, the support´s held and the double bottom is still valid (until it breaks).
2. As we can see in the chart, Pi Cycle bottom indicator suggests that the bottom is in.
3. Moreover, RSI hit its lows in June just before Pi Cycle bottom indicator signaled that the bottom is in and it was also the case in the 2018 when the price found its absolute bottom.
We expect the price to consolidate for a few more weeks. If double bottom holds, we may not see lower prices and the Parabola will start.
Sentiment on social media is still very bearish. Everyone expects lower prices. It would not be surprising if market does not give us a chance to buy cheaper and many people will be left behind waiting for lower prices.
Below 20k may be a good price for a long term investment. DCA below 20k !
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Nothing has changed in this idea. It´s still possible!
Trade active
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Double bottom still valid. Bottom may be already in.
I think the problem with all these kinds of analyses (and there are a lot of them) is they are completely discounting the macro economic factors. The end of 2018 looked great compared to now. What makes you think the recovery is going to follow the exact same pattern?
🤑 Great! Was looking through the asset and ideas related to it and held the same opinion. My opinion was only supported with the arguments of your idea)
vf_investment
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@Solldy, Glad to see this. thanks for the comment :)