So yes, BTC is apparently bullisher than I thought, at least short-term, because longterm I'm always a BTC uber bull :)
But short-term, I had several reasons to think that a weekly capitulation bar was very likely:
1. Too much bullishness and optimism (contrarian indicator)
2. Number of daily transactions still below ATH (although now finally approaching ATH...
The Square Root set-up appears in large cap stocks that underwent capitulation. Because large caps are heavily traded, the high liquidity reduces sharp movements. This set-up is best for position trading and usually is a sweet spot for establishing a core position on a stock that potentially has long runway for an uptrend.
There are reasons to be...
I noticed a crazy convergence of extremeley important supports, at a price range, that I think, will be the strongest support in this bearmarket.
The first support being the weekly MA300.
The second support being the longterm squareroot function trendline.
The third support being the line connecting the 2013 ATH with the China dip.
The last one comes from an...