We've been hitting my targets quicker than I have been anticipating.
I haven't been as active lately and I'll be honest as to why... not as many people look at TV these days. If you look at google trends you will see that TV search volume is highly correlated with BTC search volume. I do this to gather a following...
Anyways, I still want to provide updates, but I might spend less time on it compared to a few months ago. I will be spending more time developing a simple website linked in my profile.
Let's get into it...
I've drawn a new support line that is my next bearish target is $2,500 (my lowest for the bear market is 1K which I haven't drawn yet but might have to at this rate). I am very neutral at this price point leaning bullish. In fact, I will be accumulating bitcoin at all $500 decrements from 4k. So, 3.5k , 3k etc. That is, until we get a bounce. If we go straight to 1K without a bounce, so be it, that's my plan for now. I would not be shorting here. We are at weekly oversold levels (rare and extremely profitable place to buy historically) and we are oversold by record levels on the daily RSI. Lastly, the NVT ratio is dropping considerably which is good for bulls.
Anyways, I would officially recommend starting to deploy some money that you are wanting to allocate into bitcoin here. Note: you might want to go in like I am evenly in intervals of $500 decrements or you could implement a strategy similar to a martingale as price drops. Up to you.
At these prices, I call bullshit. We are nearing a bottom (that bottom could be 1K I mean in terms of price&time)