Around 20K is the buying range. The problem is we are on the verge of a global recession and crypto markets have not yet experienced such, so uncertainty is high.
Crypto markets are following the traditional markets for now, but the aversion for risk leading to the current outflow might be overcome by the distrust in the current monetary system during a recession.
Crypto markets are following the traditional markets for now, but the aversion for risk leading to the current outflow might be overcome by the distrust in the current monetary system during a recession.
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the high is not date specific, it's just a visualization that it might accumulate on the trend line before another bull market.
My target here is starting DCA on the target.
My target here is starting DCA on the target.
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There it is and I'm buying twice a week now, even if it keeps going lower.
There it is and I'm buying twice a week now, even if it keeps going lower.
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Bought some nice bags under 20K, as expected the red line became a good support.
If we loose it, I will hold DCA and resume it at 12K, but I'm not betting on it like I was for 19K.
If we loose it, I will hold DCA and resume it at 12K, but I'm not betting on it like I was for 19K.
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Nice bounce at the support line, now lets see if it hold.
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Trend line hammering both attempts of brake trough.
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And there we go, again red line region showed strength. This time we broke the macro down trend, and we are currently testing the sideways channel.
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Pressure increasing:
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Filter the noise and we are going for another resistance break attempt:
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M formation not ruled out yet, this is a decision point to pay attention now and prepare your trades.
M or brake out.
M or brake out.
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Awesome volume on the rise!
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If RSI breaks the down trend, it will be pretty to see.