Hello everyone, my "friend" was right apparently. She warned me about being short-biased (see the idea linked below) and the day after BTC jumped. Once again, when everybody is expecting the same thing and when the chart is too clear to be true, BTC does the opposite.
Now I want to share with you my secret indicator, that actually confirmed that 8,800 was a local bottom. It is still relatively new so has to be tested on the bench. It is created on Tether market cap and was successful in indicating past Bottoms and Tops, and local top and bottom as well. It says that on the 24-25 of May we were exactly at a local top or bottom. Since we touched 8,800, that was for sure a local low.
Here it is :
Beside indicating the local bottom, it says that we are 32% far for the TOP, that is located at 12,500$ (most likely) for current prices OR 26% from the real bottom (7,070$) - less likely.
Since the level we are now on the indicator can either be a local max or a local min, why 12500 and not 7000 then? Because the level was touched when btc was at 8,800 hence it was a local MIN.
Please note that this is just a view on the NEXT move, I still believe that we will go lower. But for the next move I am .
Let me know what you think.