Moon boys about to get wrecked in bearish continuation.
My previous TA (marked and unchanged using the pink dashed lines) has played out almost entirely correct.
We are still in a 3 + year long bear market, and until this trend has been broken AND we receive confirmation, we must rationally assume that this is still the current sentiment of the market.
Granted, there are signed of bullish divergence but I find it unlikely that this will happen over the course of just a few weeks. What I see to be most likely is many months of sideways V shape swings, forming higher lows and lower highs.
Only when the band in which we trade in has been tightened and exhausted, and when a MACRO higher high has been formed, can actually we expect a TRUE bull market to begin.
DON'T BE FOOLISH, BUY THE DIPS, SELL THE HIGHS.
THE TREND IS OBVIOUS.
We are still in a 3 + year long bear market, and until this trend has been broken AND we receive confirmation, we must rationally assume that this is still the current sentiment of the market.
Granted, there are signed of bullish divergence but I find it unlikely that this will happen over the course of just a few weeks. What I see to be most likely is many months of sideways V shape swings, forming higher lows and lower highs.
Only when the band in which we trade in has been tightened and exhausted, and when a MACRO higher high has been formed, can actually we expect a TRUE bull market to begin.
DON'T BE FOOLISH, BUY THE DIPS, SELL THE HIGHS.
THE TREND IS OBVIOUS.
Trade active:
OK, trend reversal has occurred perfectly in line with the trend prediction. I entered a short position at $10,020.
Looking to take profits & take a long position after confirmation of a double bottom in the 6.5k-7k region.
Looking to take profits & take a long position after confirmation of a double bottom in the 6.5k-7k region.