The parallel with the previous cycle is obvious.
Continued decline to 200W SMA should be expected. Death cross is likely averted, and a new bullish cycle will begin perhaps in a year's time.
The volume corresponds with this theory.
Of course, this time it's different.
Super-long-term target will be between 100k & 200k (see pitchfork). That's the end of Wave 5. I guess around 2023.
That's when the crypto bubble will have a huge burst. Crash to perhaps 10-20k. New, better techs will arise from the ashes.
Continued decline to 200W SMA should be expected. Death cross is likely averted, and a new bullish cycle will begin perhaps in a year's time.
The volume corresponds with this theory.
Of course, this time it's different.
Super-long-term target will be between 100k & 200k (see pitchfork). That's the end of Wave 5. I guess around 2023.
That's when the crypto bubble will have a huge burst. Crash to perhaps 10-20k. New, better techs will arise from the ashes.
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This screenshot shows Wave 5
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200W SMA target is possibly around 2.5k
just to clarify
just to clarify
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@imkeshav suggests that the Wave 4 may be over, which of course is possible
We're under 50W but not decidedly. A break under 7k would confirm that.
I think this market is decidedly more volatile & hence a deeper correction is within reason.
Must admit, the main reason I think it could still go down is the 50W SMA & of course the death cross on the daily.
Anyway, the summer is coming...
We're under 50W but not decidedly. A break under 7k would confirm that.
I think this market is decidedly more volatile & hence a deeper correction is within reason.
Must admit, the main reason I think it could still go down is the 50W SMA & of course the death cross on the daily.
Anyway, the summer is coming...
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market indecision, too go up must go down first; to go down must go up first
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the market has indeed stabilized in the last few days, if only because the willingness to sell is low
there's a real chance that the market stays in this areas for the mid-term
there's a real chance that the market stays in this areas for the mid-term
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weekly death cross?
