lots of reasons for an upside move
1) down 55% with no signficant bounce to fib retraces yet
2) still in uptrend (until 28k low taken out)
3) overwhelming bearish sentiment
4) lots of cash sat on the side waiting for lower prices
5) every crypto trader is a moving average trader. Everyone calls bear market after 200 daily MA break. What if market wants to punish these MA traders?
6) commitment of traders bull signal
reasons for further downside
1) potential massive head and shoulders
2) laser eyes
biasing long
1) down 55% with no signficant bounce to fib retraces yet
2) still in uptrend (until 28k low taken out)
3) overwhelming bearish sentiment
4) lots of cash sat on the side waiting for lower prices
5) every crypto trader is a moving average trader. Everyone calls bear market after 200 daily MA break. What if market wants to punish these MA traders?
6) commitment of traders bull signal
reasons for further downside
1) potential massive head and shoulders
2) laser eyes
biasing long