13th March BTC Are we at the start of the capitulation phase?
That big red bar on the 1H changed a lot of technicals perspective. Bulls would have become Bears for the short term. I like using the Alligator when a trend is in place but that one red bar broke all the lines and that is a very bearish signal to me. This downmove might be just the final down move or the capitulation phase if you look at it from a bubble perspective. The panic phase where most people declares BTC dead or a scam. Wait for people to post such stuffs and find a place to buy, you will be buying at the bottom.
However if price somehow manages to rally above the Alligator then we will be bullish again. But becoming unlikely.
However if price somehow manages to rally above the Alligator then we will be bullish again. But becoming unlikely.
Comment:
Turned down once again =(
Turned down once again =(
The market likes to toy with TA people, but as TA traders, you need a plan for both bull and bear moves. And with this upmove that broke the alligator lines, we have once again become bullish. Which means yesterday's fall was a bear trap. TA traders do not marry their positions, we enter and get out when technicals change and especially so in such a volatile market.
Up up here we go!