I drew that the other day with no intention of publishing it but well.. recent events make me do it now
They will be bounces but I feel mostly bearish about the market into the coming months : - crypto is still considered as risky - recent Terra events are just crazy bad - no one wants to buy crypto now, unless he is a full degenerate - industry is still WAY too young to provide robust value to other sectors of the economy
Most projects are over-inflated and will die. Same with Play2Earn... a few will survive, stay on the watch for those
Keep safe
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We just touched the weekly EMA 200, a reaction is to be expected here, otherwise...
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Reaction on going. Let's see where this takes us to find new shorts setup
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getting to the major support level identified...
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One last touch on support tagged, and the purge will be soon over -> i will position myself into identified ecosystems (Cosmos, Solana, Ethereum, and Synapse + Looks)
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So far the draft has been unfortunately very precise. Feel sorry for those affected by the FTX crash.
Now he is not the time to revenge trading but rather focus on long term projects trading wise & on your health.
I would be surprised if the bull market begins sooner than 2024 - see my more bullish draft to folio constitution & strategy + levels of accumulation from my side