Nice. Thanks for sharing. Really sensible idea (after long time) among many irrational ones. Wish you a good one!
WeAreSat0shi
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here you go brotha!
prefabsprout
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quality chart.
wicking down to support 2 incoming; but don't worry it's just a ploy to get retail hodl kids to give up and dump their coins.
those greedy bastard whales will stop at nothing to test us. nor should they.
GunMoney
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@prefabsprout, haha true, and thanks, a lot of macro-indicators suggest this rally isn't done yet, but I always keep an open mind. "Support 3" seems unlikely as that would be a 100% retracement of this entire rally, a wick into "2" possible for sure. good luck
prefabsprout
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@GunMoney, the one thing that worrys me about this idea of more dumpage is that the weekly total mc show 3 clear higher high higher low candles atp. and i am having trouble finding any place in the history of the chart where that didnt end up in another bullish move up the next week....
GunMoney
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@prefabsprout, yeah, and if we hold and trend sideways pretty much everything (bitcoin, many alts, total MC) will be breaking out of overhead linear resistance in 1-2 weeks. I could see an over-night bump due to this sell-off and then some weakness last week of 2021 but might breakout shortly after. Support zone 1 almost for sure, zone 2 maybe a wick like you said, zone 3 would take a black swan event IMO
lcharles1001
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@prefabsprout, I think we will not break support 1, because I used to have the same sentiment on support 3 at middle of this year and breakdown not ocurred. Now it seems that the market is in a range trading accumulation.
WeAreSat0shi
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I love you gun, but I don't agree with you here. The signals for a month now have been mixed and I believe will remain so until it's blaring obvious that it's a slow trend up and then will explode. love your charts brotha!
GunMoney
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@dicky_retardo, appreciate the feedback. Been bullish thinking "this is bottom" for a week or so. "Fear gauge" was at 21, 2 week MFI was sub-30 (money flow index), all signs pointed to rally, but that hard rejection off $52,000 leads me to believe we're at least going to revisit 40k-42k. But, as you know, markets always surprise (especially crypto) and anything is possible