This post is no guarantee. It is purely my opinion based on clear facts and indicators. I will show how the probabilities stand and than in the end you can create your own opinion.
Alright, lets get started:
1/
If 69K was the top it would be the first cycle peak without:
- Price hitting 1 fib curve
- DRSI reaching red area
- StochRSI reaching white zone
- VRI reaching white zone
--> Therefore probabilities are in favor of the Bull Market still being on!
2/
Let's focus on the red circle quickly, because that's where we currently are imo. 2013 & 2021 are pretty similar because both had mid cycle peaks & lows.
For the red circle in both cycles (2013 & 2021) the following is true (so far):
- PA: resistance at .5 fib curve
- DRSI: RSI resistance at middle band
- StochRSI: momentum slowed down
- RVI: Pointed downwards
2.1/
The logical conclusion:
We have Confirmation for Bullish Continuation once:
- PA: 2W closes above .5fib curve
- DRSI: RSI crosses above middle band
- StochRSI: Momentum shifts bullish
- RVI: Points upwards again.
Once all 4 points become reality, chances are high to reach 1fib curve.
If nothing happens Bear Market is likelier.
Big credits to @TechDev_52 !
It's his original work that inspired me to dig deeper!
Hope you enjoyed it!
Make sure to follow me on Twitter as I'm very active there!
Take Care
Valerio
Alright, lets get started:
1/
If 69K was the top it would be the first cycle peak without:
- Price hitting 1 fib curve
- DRSI reaching red area
- StochRSI reaching white zone
- VRI reaching white zone
--> Therefore probabilities are in favor of the Bull Market still being on!
2/
Let's focus on the red circle quickly, because that's where we currently are imo. 2013 & 2021 are pretty similar because both had mid cycle peaks & lows.
For the red circle in both cycles (2013 & 2021) the following is true (so far):
- PA: resistance at .5 fib curve
- DRSI: RSI resistance at middle band
- StochRSI: momentum slowed down
- RVI: Pointed downwards
2.1/
The logical conclusion:
We have Confirmation for Bullish Continuation once:
- PA: 2W closes above .5fib curve
- DRSI: RSI crosses above middle band
- StochRSI: Momentum shifts bullish
- RVI: Points upwards again.
Once all 4 points become reality, chances are high to reach 1fib curve.
If nothing happens Bear Market is likelier.
Big credits to @TechDev_52 !
It's his original work that inspired me to dig deeper!
Hope you enjoyed it!
Make sure to follow me on Twitter as I'm very active there!
Take Care
Valerio