LOL :) This is what you will hear from bears screaming bear market and it's the perfect buy signal :)
Here's why:
1- The Up Trend is Intact
From a long term perspective our uptrend stride has finally found it's third touch and the supply trend is validated. Even a second spring happens, it will just be a shakeout.
2- The FED News
This is where the reversals and beginings of rallies happen. Remember Elon Musk & Jack Dorsey Talk? That was at $29k where everybody was screaming Bitcoin's dead. As i mentioned in my previous post, FED has an update on Tapering this week Wednesday, 21-22. It is quite the same sentiment when we were at 29k. Just look at the runway!
3- Wyckoff accumulation in play
Although not textbook, we are yet in another local wyckoff accumulation order block within an uptrend. Few more days of fear pomping would be just enough to get weak hands sidelined and rally begins. These accumulation zones only add up to the price target. This last drop is actually a higher low and marks as the LPS (Last Point Of Support)
My short term bots were triggered yesterday and shorted 30% during the drop while i was sleeping. I'm considering closing these shorts manually before they are triggered and enjoy profits. Undecided for now.
So, wait until you hear everyone turns bearish within few days if not hours and the opportunity will present itself.
As always, i'm probably wrong.
Trade safe.
Here's why:
1- The Up Trend is Intact
From a long term perspective our uptrend stride has finally found it's third touch and the supply trend is validated. Even a second spring happens, it will just be a shakeout.
2- The FED News
This is where the reversals and beginings of rallies happen. Remember Elon Musk & Jack Dorsey Talk? That was at $29k where everybody was screaming Bitcoin's dead. As i mentioned in my previous post, FED has an update on Tapering this week Wednesday, 21-22. It is quite the same sentiment when we were at 29k. Just look at the runway!
3- Wyckoff accumulation in play
Although not textbook, we are yet in another local wyckoff accumulation order block within an uptrend. Few more days of fear pomping would be just enough to get weak hands sidelined and rally begins. These accumulation zones only add up to the price target. This last drop is actually a higher low and marks as the LPS (Last Point Of Support)
My short term bots were triggered yesterday and shorted 30% during the drop while i was sleeping. I'm considering closing these shorts manually before they are triggered and enjoy profits. Undecided for now.
So, wait until you hear everyone turns bearish within few days if not hours and the opportunity will present itself.
As always, i'm probably wrong.
Trade safe.
