Bull market failed ,now what ?
30-40% retracemants are off the table.We are trading under the 200 daily MA .Bull market failed!Now what?
We are looking some bearish targets : the WEEKLY 30 RSI and the 200 weekly MA ! Both tremendous indicators for some kind of bear market bottom .Altough price might wick under these targets ,price NEVER EVER in the history of bitcoin stayed under for weeks/months ! Tremendeous investing oppurtinity if you do ask me .
Currenetly the 200weeklyMA is traveling roughly at 4900 (depending on the exchange) If it starts to dump more or less sharply ,the 30 weekly RSI might coincide with the 200 we MA wich would be be even better !
Disclaimer :i dont think price will go straight down ,i think there will be another big short squezee anywhere between 6.1-6.9k (see my previsious idea).Hell ,theres some early signs that 6.5k might be the bottom...price dont have to go to that targets at all (but most probably it will)
If you are trading, trend is your friend -sell the pumps
If you wanna invest ,these sub 7k leveles are probably not the worst times to DCA down to those targets! The sentiment is bearish as fuck it might not go that low at all ...DCA is king !GL
We are looking some bearish targets : the WEEKLY 30 RSI and the 200 weekly MA ! Both tremendous indicators for some kind of bear market bottom .Altough price might wick under these targets ,price NEVER EVER in the history of bitcoin stayed under for weeks/months ! Tremendeous investing oppurtinity if you do ask me .
Currenetly the 200weeklyMA is traveling roughly at 4900 (depending on the exchange) If it starts to dump more or less sharply ,the 30 weekly RSI might coincide with the 200 we MA wich would be be even better !
Disclaimer :i dont think price will go straight down ,i think there will be another big short squezee anywhere between 6.1-6.9k (see my previsious idea).Hell ,theres some early signs that 6.5k might be the bottom...price dont have to go to that targets at all (but most probably it will)
If you are trading, trend is your friend -sell the pumps
If you wanna invest ,these sub 7k leveles are probably not the worst times to DCA down to those targets! The sentiment is bearish as fuck it might not go that low at all ...DCA is king !GL
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