I cannot believe my eyes. Is BTC really curving itself up?
Hi everyone.
I usually do not use much any of time-frames above 4H or the more over day for charting. However I tried my best with weekly candles on the BTCUSD pair .. because we are inside this cycle already for quite some time and it is good to try to grab some perspective.
So I jumped in and I did my best. Now I am bit hesitant to believe what I do see .. I learned to be skeptical so far. However, is that just my eyes deceiving me? Or do you see it too?
Did my sub-conscience play a prank on me, so I just cherry picked things? (I really tried not to) I have hard time believing it, that there would be so many signs of already bottoming about now.
So not the one panic sell, meaning the "real" capitulation then. Instead we are having rounding bottom with several smaller panic sells turned in round bottom. (and after this usually sharp spikes up are starting period of ascending accumulation ... and then rally up)
Do I have your blessing with my observations?
I am especially weak with Ichimoku, even so, I tried, so please bear with me, and if possible, give me some of your perspective to my conclusions. I will appreciate that (I am still learning from all of you guys .. and yeah - from SnipersTube)
If I sum it up ... from the weekly perspective it does not even look, like we were in deep recession, in some crash (looking mainly on RSI, kijun) ... more likely, like in slow, yet volatile consolidation in the overally still bullish market.
And what more! It even seem that it to be over -now!
If it reminds of anything ..
it would not be the looong recession in 2014-2015
.. more like the one just right before it. the sharper recession in 2013 ... we could thing of it as of deep consolidation before catching second breath in absolutely huuuuge runnup in November 2013 (and than there was the real bubble and recession).
.. just have look what weekly RSI was in depths of the 2013 "crash" before the 2014 run-up. Just to let you know - I didn't know it either - back than RSI jumped back to growth after just reaching 46 ... only in the big crash in 2015 it bottomed down on 30. Now we have reached 43 and RSI is kind of satisfied :-D and going up :-).
Moreover, if history tends to repeat itself - why would we not make it two-step cycle like last time .. why to compare this correction to the 2014-2015 crash? Have we been through repeating the 2013 small crash yet? How come, we would go in the big crash then?
If it so, than rejoice - bull season is about to begin for real!
So catch their horns and don't let them run away from you, they will carry you up to McCaffees target (good for him) and to the moon >:-D !
weet!
I usually do not use much any of time-frames above 4H or the more over day for charting. However I tried my best with weekly candles on the BTCUSD pair .. because we are inside this cycle already for quite some time and it is good to try to grab some perspective.
So I jumped in and I did my best. Now I am bit hesitant to believe what I do see .. I learned to be skeptical so far. However, is that just my eyes deceiving me? Or do you see it too?
Did my sub-conscience play a prank on me, so I just cherry picked things? (I really tried not to) I have hard time believing it, that there would be so many signs of already bottoming about now.
So not the one panic sell, meaning the "real" capitulation then. Instead we are having rounding bottom with several smaller panic sells turned in round bottom. (and after this usually sharp spikes up are starting period of ascending accumulation ... and then rally up)
Do I have your blessing with my observations?
I am especially weak with Ichimoku, even so, I tried, so please bear with me, and if possible, give me some of your perspective to my conclusions. I will appreciate that (I am still learning from all of you guys .. and yeah - from SnipersTube)
If I sum it up ... from the weekly perspective it does not even look, like we were in deep recession, in some crash (looking mainly on RSI, kijun) ... more likely, like in slow, yet volatile consolidation in the overally still bullish market.
And what more! It even seem that it to be over -now!
If it reminds of anything ..
it would not be the looong recession in 2014-2015
.. more like the one just right before it. the sharper recession in 2013 ... we could thing of it as of deep consolidation before catching second breath in absolutely huuuuge runnup in November 2013 (and than there was the real bubble and recession).
.. just have look what weekly RSI was in depths of the 2013 "crash" before the 2014 run-up. Just to let you know - I didn't know it either - back than RSI jumped back to growth after just reaching 46 ... only in the big crash in 2015 it bottomed down on 30. Now we have reached 43 and RSI is kind of satisfied :-D and going up :-).
Moreover, if history tends to repeat itself - why would we not make it two-step cycle like last time .. why to compare this correction to the 2014-2015 crash? Have we been through repeating the 2013 small crash yet? How come, we would go in the big crash then?
If it so, than rejoice - bull season is about to begin for real!
So catch their horns and don't let them run away from you, they will carry you up to McCaffees target (good for him) and to the moon >:-D !
weet!
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