The RSI compression from December ATH still ends on Sunday/Monday.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/2 - Green; 2/2 - Blue
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
If you're getting sick of seeing this same chart... good. I'll keep posting it with only minor changes and add as we go along.
My theory is that in observing the behavior of emergent phenomena we should only really compare the thing to itself.
I went through countless iterations to get my channel drawing where I want it across the last 9 months and will keep this particular baby, whichever way things turn.
We seem to be hovering just over the "we have a problem zone" - nauseating territory indeed.
The price action heading towards this weekend has been nausea-inducing on a level that would have Sartre calling us all more human for the experience.
RSI has been on the low end all week. Market manipulators have been running amok between bot-jacking, burst-selling, and sell spoofing. Regulatory and market FUD have been consistent but not convergent, and a lack of influx in new money has caused most of the experienced volatility to be on a decreasing pool of liquidity - that part is a good thing. From an "ecologic" perspective, the cryptosphere is supporting too many parasitic shitcoins to flourish into the next phase of growth, which in turn will be based on the compounding expanse as early adopters utilize crypto more and the next wave of attention is brought along.
BUT - volume is increasing, MACD and RSI are both working their way up while this slide of price in the face of these factors.
EVERYONE eventually WANTS someone TO tell them how to BUY BTC AT THE BOTTOM.
EVERYONE eventually WANTS TO BUY BTC AT THE BOTTOM.
EVERYONE eventually WANTS TO BUY BTC.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/2 - Green; 2/2 - Blue
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
If you're getting sick of seeing this same chart... good. I'll keep posting it with only minor changes and add as we go along.
My theory is that in observing the behavior of emergent phenomena we should only really compare the thing to itself.
I went through countless iterations to get my channel drawing where I want it across the last 9 months and will keep this particular baby, whichever way things turn.
We seem to be hovering just over the "we have a problem zone" - nauseating territory indeed.
The price action heading towards this weekend has been nausea-inducing on a level that would have Sartre calling us all more human for the experience.
RSI has been on the low end all week. Market manipulators have been running amok between bot-jacking, burst-selling, and sell spoofing. Regulatory and market FUD have been consistent but not convergent, and a lack of influx in new money has caused most of the experienced volatility to be on a decreasing pool of liquidity - that part is a good thing. From an "ecologic" perspective, the cryptosphere is supporting too many parasitic shitcoins to flourish into the next phase of growth, which in turn will be based on the compounding expanse as early adopters utilize crypto more and the next wave of attention is brought along.
BUT - volume is increasing, MACD and RSI are both working their way up while this slide of price in the face of these factors.
EVERYONE eventually WANTS someone TO tell them how to BUY BTC AT THE BOTTOM.
EVERYONE eventually WANTS TO BUY BTC AT THE BOTTOM.
EVERYONE eventually WANTS TO BUY BTC.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.