Looking at the total market cap through the eyes of both bear and bulls
Bears:
Bear market: shorting every bounce will give a higher return than longing every dip.
Still below EMA on high timeframes.
Under monster trendline
Waiting for 'real' capitulation (during the November blood, the amount of longs stayed relatively still)
Bulls:
After a near 90% decline, seems like a reasonable place to buy.
Higher R/R buying dips down here
Bullish div on volume (could take a while to play out)
IMO Most likely situation is a double bottom or flash below to find liquidity for larger orders.
But this area seems like a solid place for spot buys and I'd be taking advantage of any dips for long term buys.
Margin trading still give good reason short however the chop could prove difficult
See charts below to show the importance of this general area:
Ripple - significant area to hold
ETH - fib support and price support. Once again DB is likely, also wouldn't be surprised to support broken due to fundamental factors
BTC - falling wedge perhaps? bears dreaming of reaching the golden demand zone......as do bulls who are looking to buy!
Bears:
Bear market: shorting every bounce will give a higher return than longing every dip.
Still below EMA on high timeframes.
Under monster trendline
Waiting for 'real' capitulation (during the November blood, the amount of longs stayed relatively still)
Bulls:
After a near 90% decline, seems like a reasonable place to buy.
Higher R/R buying dips down here
Bullish div on volume (could take a while to play out)
IMO Most likely situation is a double bottom or flash below to find liquidity for larger orders.
But this area seems like a solid place for spot buys and I'd be taking advantage of any dips for long term buys.
Margin trading still give good reason short however the chop could prove difficult
See charts below to show the importance of this general area:
Ripple - significant area to hold
ETH - fib support and price support. Once again DB is likely, also wouldn't be surprised to support broken due to fundamental factors
BTC - falling wedge perhaps? bears dreaming of reaching the golden demand zone......as do bulls who are looking to buy!
