Only one Trendline that matters in the big picture

31 de mai. de 2022

IMO, only one trendline matters, which is defined by the April 21 ATH and the selloff point of the second reach to new ATH. I am considering this as the top line of a descendig wedge, representing the start of new (real) bullrun. IMO, the last bull run ended in Apr 21. the new ATH in Nov 21 is a try to break out of the descending wedge but failed, which is not sprisingly as many traders and newbees were unsure about upcoming regulations. To start a new major bullrun, we need more accumulation, which for me is located around 14k-17k. I do expect large accumulation around this area at the end of the year and a start of a new bullrun in the upcoming month following.

No financial advice, dyor. Keep in mind, that with ongoing regulations and a change in macroeconomically circumstances, also a fully change in this idea might come upon.

Namaste