We just hit another major support level. Those doing "buy the dip" kind of strategies this seems great opportunity to add to the stack for the long term. I'm certainly buying here.
Can we go lower? absolutely. The break of the 40k came faster than expected and open the door for other lower technical levels as we continuously don't see strong fear or bearish sentiment in the market.
Volumes on the Weekly and Monthly charts remain unimpressive they don't scream "the bottom" but one important note is that the books on the sell side are extremely thin and this could equally shoot up and leaving everyone behind.
Futures are starting showing signs of bullishness but not fully there yet wee need more consolidation and keep sweeing swaps trading bellow spot more aggressively to affect funding rates favourably to longs.
We also still missing bullish divergences in most timeframes as well as breaking some structural trendlines on top of price or even the RSI.
A reminder that my views are just hypothesis and they are obviously subjective so take everything I say with grain of salt.
If you interested in getting access to same scripts I use myself use the link down bellow in the signature for exclusivity and paid access OR alternatively check my published script library where you will find plenty of free scripts.
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On Balance Volume. Probably will cover it in the next video as well.
Agree and thank you for this. i have a somewhat similar view -
madinakamilovna
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Thanks for sharing🤞🏼 We’ll see on Wednesday clear direction
ARTA
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Thanks very informative good job
Wigman
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I believe it’s spelled Mc Donald’s … but appreciate the analysis. What do you think of that “M”. Sure looks like a macro double top which suggests continued bearishness
TheCryptoCity
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I am sharing my idea with you
Gambling
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impressive work! Impatiently waiting for your next post..