We currently have so much fear in the market, so much fear that i'm starting to be bullish!
First of all it seems that we are in a multi year rising wedge formation, if this formation breaks we can drop hard but IMO we will first see one more move to resistance of this wedge.
We are currently testing the wicks of the rising trend line and take a look at where the RSI is at, almost at the point where we saw major reversals in the past, with rallies from 800 till 7000%!
Beside this take a look how long the downtrend took place before a major reversal, about 426 days! 2 times it happened and now at the same amount of days that past we are at a major support.
Don't lose money on the whales, they buy what you sell before a major reversal
First of all it seems that we are in a multi year rising wedge formation, if this formation breaks we can drop hard but IMO we will first see one more move to resistance of this wedge.
We are currently testing the wicks of the rising trend line and take a look at where the RSI is at, almost at the point where we saw major reversals in the past, with rallies from 800 till 7000%!
Beside this take a look how long the downtrend took place before a major reversal, about 426 days! 2 times it happened and now at the same amount of days that past we are at a major support.
Don't lose money on the whales, they buy what you sell before a major reversal