I feel the overview of the Crypto space currently depends mainly on BTC. I wish it wasn't but many eco systems show signs or are forming into a Head & Shoulders. (Most would say this is a bearish chart pattern)
Typically with the market reacting in phases. It seems justified that we would see a reset off a 70k ATH, Impulses are met with corrections.
Although, due to the market caps Cryptos resets are harsher than most which causes them to be labelled as parabolic correctional phases, as 60% retest off tops is the norm.
We also have to factor smart money cashing chips and side stepping bearish market sentiment. If you are trading Crypto, it is best to sell before tops and buy back in at bottoms.
Because of this we get a slow down in momentum which causes for divergences to be formed, this indicator is a way of understanding possible traps before they are laid.
Quick fundamental indicator you can help use is aligning Miners to BTC price to see what they are doing. If miners are dumping its probably alluding to something within the eco system.
I do believe that BTC is due to dump lower, since we have been bullish for nearly a year It seems fair. Also I can see the 30k reset being a great point for a huge bull run next cycle.
TA is subjective as such biases will change. Be on the lookout of updates and let me know if you agree of disagree.
Typically with the market reacting in phases. It seems justified that we would see a reset off a 70k ATH, Impulses are met with corrections.
Although, due to the market caps Cryptos resets are harsher than most which causes them to be labelled as parabolic correctional phases, as 60% retest off tops is the norm.
We also have to factor smart money cashing chips and side stepping bearish market sentiment. If you are trading Crypto, it is best to sell before tops and buy back in at bottoms.
Because of this we get a slow down in momentum which causes for divergences to be formed, this indicator is a way of understanding possible traps before they are laid.
Quick fundamental indicator you can help use is aligning Miners to BTC price to see what they are doing. If miners are dumping its probably alluding to something within the eco system.
I do believe that BTC is due to dump lower, since we have been bullish for nearly a year It seems fair. Also I can see the 30k reset being a great point for a huge bull run next cycle.
TA is subjective as such biases will change. Be on the lookout of updates and let me know if you agree of disagree.
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To the pip.
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TPs incoming
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Its happening....
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<3
