Historically, every dip that found a bottom saw panic selling (lots of long topwicks) and fomo buying (lots of long bottomwicks). It doesn't look like that at all at the moment. The price is just slowly slipping down without any emotion at all. It didn't even blink twice when crossing the 200-day EMA. We've never even closed a 4h candle below it since the start of this run in 2015.
Bull's last stand can be made at the 200-day MA, but we've never even touched it before since the start of this run in 2015.
Bulls are seemingly in denial - everyone else is complacent. Complacency might turn into panic selling after we make a close below the 200MA.
Below that, my target for a bear market is a .786 retrace over multiple months.
Bull's last stand can be made at the 200-day MA, but we've never even touched it before since the start of this run in 2015.
Bulls are seemingly in denial - everyone else is complacent. Complacency might turn into panic selling after we make a close below the 200MA.
Below that, my target for a bear market is a .786 retrace over multiple months.
Note
We found a bottom and got an impulse!Watch out for this, though:
Note
The 2 hour c-clamp target you can see in the picture below was met (the kijun ended up at 9200). The 4h ichimoku has built up a c-clamp too. This is what you have to look for:
The c-clamp is an extremely easy signal to watch for and also extremely reliable. The kijun (red line) is price equilibrium - and price always (always) returns to equilibrium.
Note
Looks like we bounced on exactly 6000$ right in my first target zone (based on volume profile). If you're not in since low 6k you should wait and watch for these zones to be broken with the close of an hourly candle: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.