Seems further down for BTC and ETH
Normally when you anticapate a trend reversal (trend 5+ moves ) or a mid term corrective move (3-5 moves) you draw a linear channel:
1) from bottom through first high (pullback) and then through support
2) from the first bottom set to be on the mid line of the channel, then through top of the pulback and the next low as a bottom.
What happens next is the magic factor:
you should anticipate next moves to bounce of thhese channels.
In case they dont, instead they bounce off the mid that is a sign of weakness.
I am getting bearish again.
Additional factors:
The thic line shows sentiment by color and the channels are regression channels.
The sentiment is very bearish on D1. We lost lots of time on H4 and H1 fighting it and nothing happened.
We were weak in the channel.
Even regressions show we are in a deep shit on a strong slope down.
Fundamentally: the world is in a big shit, we will have more downs. We all know that coins were bought by weak hands of speculators who wanted to rule the world with coins but will run away only to join later as they do with the rest of stocks, commodities and bonds.
1) from bottom through first high (pullback) and then through support
2) from the first bottom set to be on the mid line of the channel, then through top of the pulback and the next low as a bottom.
What happens next is the magic factor:
you should anticipate next moves to bounce of thhese channels.
In case they dont, instead they bounce off the mid that is a sign of weakness.
I am getting bearish again.
Additional factors:
The thic line shows sentiment by color and the channels are regression channels.
The sentiment is very bearish on D1. We lost lots of time on H4 and H1 fighting it and nothing happened.
We were weak in the channel.
Even regressions show we are in a deep shit on a strong slope down.
Fundamentally: the world is in a big shit, we will have more downs. We all know that coins were bought by weak hands of speculators who wanted to rule the world with coins but will run away only to join later as they do with the rest of stocks, commodities and bonds.
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