Hope this helps you decide....
In summary, MY Strong opinion weakly held (as a wise trader says): Near to the Bottom
-Too many strong levels to beat to the downside.
-Economy bubble (Druckenmiller comments summarize this well)
-Stock to Flow model: solid model always beating opinions
Bear case: measuring the environment´s hype badly?
Chart NOT looking as sexy...
Do you even Wyckoff?
Price has been behaving EXACTLY as a Wyckoff accumulation in the 1H chart.
Plus, news are HORRIBLE... Biden the communist president trying to increase taxes overall, newbie traders in a bloodbath and PTSD....
ETH had a big spike, if it can hold well, we could be starting the stronger alt season.
Good RR for the bet for sure.
One of the most difficult charts recently... it´s been actually though to read the market.
I have both, bullish and bearish cases, but.... because F*CK THE FED, I´m sharing one of the bullish ones which is interesting.
SENTIMENT: mostly bearish. everyone is PTSD, news are not great (Government fight against Crypto), Guggenheim saying it´ll crash......
Any other news outlet more partialized and dumb than CNN out there?... difficult.
Adding fire to the bounce. Amazing timing.
Nothing can be predicted in the trading world...but I´d say this is great confirmation for the bounce.
Metals have been showing signs of bottoming (possible not yet confirmed) with commercials not increasing their selling.
If metals run, we could see a great Run up here with great Risk vs Reward. Usain Bolt Style to Ocho Ríos.
We have been having lots of social conflicts, war tensions, etc lately.... so better to have this metals on watchlist.