satoshistan
Long

How we end the bear market

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We all tried to guess where the bottom is and when it will be. It is getting clear every day when we got new candles and i am very pleased what i see here.

1st of all i believe in BTC but at the same time i believe in bear markets and bear markets lasts far longer and painful than bull markets. So our trend is still bearish but i am getting very clear signals that it is almost ending.

See how all the bullish wedges perfectly hit their targets. And lets look on the biggest red one. Do you see what i see? Yes it should go to the bottom and hit once but im pretty sure thats all.

Lets see how it plays

Trade active: NEW TARGET: 3.219 USD (BITSTAMP BASED PRICE TARGET)
Comment: BUT BEFORE THE 3.219 USD TARGET, WE SHOULD GO BACK AND TEST 7800 LEVELS
Trade active: We are very close to our targets as expected. I'm willing to see a little pullback and then try the top again. I have 2 targets again:
1st target: 7854 - 7950.7 (strongly possible)
2nd target: 8250 - 8700 area which is unlikely

Comments

In the S&P economists estimate bear markets tend to last less than 15 months, while bull markets tend to persist for more than 25.
+1 Reply
Sharky8899. Destroy_All_Analysis
@Destroy_All_Analysis, You know 1 month in crypto is 1 year in other markets?
If you havnt invested in this space then you are missing critical information.
This space is more then buy sell bitcoin.
Reply
satoshistan Sharky8899.
@Sharky8899., You're right but not that much. The ratio is approximately 1/2. You should consider 12hr in crypto for 1 day in traditional market, 1 week in traditional market matches 3 day chart on crypto. And do not believe that crypto market is different belief. A market is a market. And technical analysis works perfectly on crypto.
Reply
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