I also think a bounce is right around the corner, however I'm not bullish yet, I'm more neutral than anything else. Good chart dude!
UnknownUnicorn34088517
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Seems likely!
Tonpanzee
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Be careful of how high BTC bounces. We could in theory go up to 60K above the bull market support band, then test it as support and fly like in July. I’d rather not see that scenario and like BTC to remain below the 55K resistance for LPSY. But it will do what it wants
dRends35
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@Tonpanzee, It could do, BTC is definitely the slipperiest chart imo, that said - I think what BTC is revealing is that its now all about the x axis and not much about the y. Price has been range bound for a year and also this slow collapse i think shows BTC will have a long and tedious bear market. But maybe there will be some excitement in alts.
Tonpanzee
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@dRends35, Agree, and nice gains on your ADA long so far
I was hoping for one more fakeout down to around 38k-39k to really start a bounce. Create pure panic, and then it springs right back and beyond. This was my ideal setup. EVERYONE is watching this breakout, as they were 3 weeks ago when BTC had another local breakout. We will see if the market makes it that easy
@NoOneWhoIsSomeone,We've forgotten how much of a bubble we are now in. Smart money will be waiting in the mid-30s to buy the blood, not before.
After that we have one more good ride left in the tank. If we're lucky.
Sub-20k again by the middle of next year.
The bull run will resume again when the true value of the market bottom is tested no less than three times - after the slightly higher, third and final high gets tested in the coming months.