The blue and green lines are based off of regression lines drawn from LLs and LHs. its interesting that they almost perfectly parallel and perpendicular. Purple is my best prediction of whats going to happen. Orange Line is regression line from ATH to today, which runs parallel to the need trend line that emerged after this last local high.
I think that red trendline breaks this next go around, everyone everywhere is going to be charting about the impending apocalypse, then capitulation will be like never before. The bear market will then be over.
I havent been doing this long, but the shakeouts are obvious. I dont think enough people have been broken, and the MMs want more people rekt. I dont know what metrics theyre using to track this ded plebs (crypto twitter and r/crypto activity would be a good bet), and/or if there is just quantity thresholds they havent reach yet, but they havent gotten what they wanted yet.
Bullets:
(1) Going to red trendline, will probably hover around for a bit, get a daily close or two under it. Everyone will say "Were safe, bull run, time to break 10k, 11.8k, w/e"
(2) Weak DCB up to 8k
(3) We go under the redline, shit is gonna get uggggly quick because thats been our "life line" (remember its just an imaginary line, not the Berlin Wall)
(4) Capitulation to god knows where ( $3k is too low IMO, but somewhere in the 4-5k range if I had to guess)
(5) Start building steam for a new ATH by EOY or beginning of next year
I think that red trendline breaks this next go around, everyone everywhere is going to be charting about the impending apocalypse, then capitulation will be like never before. The bear market will then be over.
I havent been doing this long, but the shakeouts are obvious. I dont think enough people have been broken, and the MMs want more people rekt. I dont know what metrics theyre using to track this ded plebs (crypto twitter and r/crypto activity would be a good bet), and/or if there is just quantity thresholds they havent reach yet, but they havent gotten what they wanted yet.
Bullets:
(1) Going to red trendline, will probably hover around for a bit, get a daily close or two under it. Everyone will say "Were safe, bull run, time to break 10k, 11.8k, w/e"
(2) Weak DCB up to 8k
(3) We go under the redline, shit is gonna get uggggly quick because thats been our "life line" (remember its just an imaginary line, not the Berlin Wall)
(4) Capitulation to god knows where ( $3k is too low IMO, but somewhere in the 4-5k range if I had to guess)
(5) Start building steam for a new ATH by EOY or beginning of next year
