Biased on the volume we've had comparable to history I feel like this may be the bottom for a while.
I highlighter similar scenarios with high short- medium lived volume. Last time something like this happened it didn't end up being the bottom, However there is more volume in this current area, but there is less volume in this area then there was in the first circled section.
We'll see eventually if this holds but biased on FA I also have some reasoning to believe that this may be the bottom.
Even though there is supposed to be a bear market something just doesn't feel right on the fundamental side. Money printing by FED and current US economic climate makes me feel like any bear market we have will be either short lived or extremely gradual (maybe after a huge crash if everyone panic) but i have a feeling that even if this happens crypto would quickly recover in ~2 weeks because of how fucked USD is starting to seem. This is all dependent upon everyone realizing that Crypto and Defi is a safer spot to place your money rather then cash. Since it would be a gradual shift for people I would expect tons of people to buy BTC and ETH.
Just my thoughts for the day, well see if this really does end up being the bottom for a while. I really think it will though so I've loaded up on some crypto
I highlighter similar scenarios with high short- medium lived volume. Last time something like this happened it didn't end up being the bottom, However there is more volume in this current area, but there is less volume in this area then there was in the first circled section.
We'll see eventually if this holds but biased on FA I also have some reasoning to believe that this may be the bottom.
Even though there is supposed to be a bear market something just doesn't feel right on the fundamental side. Money printing by FED and current US economic climate makes me feel like any bear market we have will be either short lived or extremely gradual (maybe after a huge crash if everyone panic) but i have a feeling that even if this happens crypto would quickly recover in ~2 weeks because of how fucked USD is starting to seem. This is all dependent upon everyone realizing that Crypto and Defi is a safer spot to place your money rather then cash. Since it would be a gradual shift for people I would expect tons of people to buy BTC and ETH.
Just my thoughts for the day, well see if this really does end up being the bottom for a while. I really think it will though so I've loaded up on some crypto
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*because of how doomed USD is starting to seem.
Comment:
Looking pretty good so far, Id like to see it go over the red line before this downtrend is conformed over. The last time we had patterns like this was around late January so I'm expecting this trend to continue for at least 2 months. Trades looking good so far!