BitcoinLong
Perfect time to buy cryptos
After the fakedown yesterday (despite bad cpi numbers), my best educated guess is now that a local bottom / bottom is reached. Around 69 k I said that the top is reached which came true fortunately. I also said that this top will never be reached again but wasn't quite sure if a marginal higher high (80 k - 90 k) is still likely in the future. Unfortunately I can only trade step by step and for now I think it's a sweet spot for accumulating good cryptos.
Evaluations are attractiv (production costs / average revenues of miners), btc is loosing downwards-momentum at a key level and forms a classic ending diagonal and the price of the s&p is convergent with btc and also indicates a bottom. Bearish sentiment is at its worst and the herd thinks they are in the minority. I already heard several times that "this time is different", even from well-known crypto influencers. A bigger correction to the upside is likely, maybe in form of an abc zig zag. After the correction I will re-analyze for a potential bull trap or further upside.
Evaluations are attractiv (production costs / average revenues of miners), btc is loosing downwards-momentum at a key level and forms a classic ending diagonal and the price of the s&p is convergent with btc and also indicates a bottom. Bearish sentiment is at its worst and the herd thinks they are in the minority. I already heard several times that "this time is different", even from well-known crypto influencers. A bigger correction to the upside is likely, maybe in form of an abc zig zag. After the correction I will re-analyze for a potential bull trap or further upside.
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