i dont think we're nearly done with this bear cycle. This bearish PA has fooled a lot of bulls because of the perceived change in market structure. I think this is a second bull trap before the real dump. Seems like there was quite a bit of liquidity hunting in this range. I expect a resumption to the downside soon,
uvxy is not something you wanna hold. its down A LOT from the high (about $2,050) cuz of how many times its reverse split over the years.
uvxy also went up over 1000 percent (500% more than the vix) when markets crashed in march 2020.
longing volatility via uvxy can be very profitable during the next market crash, which i think will be soon.
as talk of a potential war between ukraine and russia continues and how bearish people think it would be, i kept thinking, "is war actually bearish?" I know that the government makes a ton of money off war via the military industrial complex, why would the market go down? I went and backtested my thesis and i was overwhelmingly right. I took a measurement of the...
technical signs btc has topped:
- bearish divergence on the weekly MACD and RSI
- bearish divergence on the monthly MACD and RSI
- weekly MACD crossed bearish
- 4 months out of this year has been spent in this rising wedge that broke down
- closed 2 weekly candles under 20 week SMA (crucial support for btc , especially in bull market phases)
- about 22 months...