Hi everyone,
After the big move that happened this week, the crypto market has been quiet for 2 days, which means that it is accumulating so when it breaks a level of resistance or support, it will witness some big moves.
I still think that we are going to the 21750 level, as I said in my last post yesterday, so we are bearish in the short-term. If we do so, then I was right about the liquidity that resided above the last swing high. Anyways, we are looking forward to that big day.
I explained in one of my posts why we are in an accumulation stage and that we will see the crypto market reach their new highs before the end of this year. However, the only thing that is preventing me to confirm my thesis, is that we are below the 200 weekly EMA, which is bearish. So, all the green days that the crypto market had this month was just a retest on the weekly time frame to the 200 EMA, and that would lead to a long crypto winter.
In conclusion, we might be in a discount, so we might be just starting a new long-term uptrend, or we might be starting a new recession. In both cases, price will show us the real direction of the market.
Please comment if you have any questions. 😊
After the big move that happened this week, the crypto market has been quiet for 2 days, which means that it is accumulating so when it breaks a level of resistance or support, it will witness some big moves.
I still think that we are going to the 21750 level, as I said in my last post yesterday, so we are bearish in the short-term. If we do so, then I was right about the liquidity that resided above the last swing high. Anyways, we are looking forward to that big day.
I explained in one of my posts why we are in an accumulation stage and that we will see the crypto market reach their new highs before the end of this year. However, the only thing that is preventing me to confirm my thesis, is that we are below the 200 weekly EMA, which is bearish. So, all the green days that the crypto market had this month was just a retest on the weekly time frame to the 200 EMA, and that would lead to a long crypto winter.
In conclusion, we might be in a discount, so we might be just starting a new long-term uptrend, or we might be starting a new recession. In both cases, price will show us the real direction of the market.
Please comment if you have any questions. 😊
