We re-enter our parabolic channel as if this was just a minor bump in the road when we look in hind-sight. This is ideal.. for us... for lambos... for paganis... this is also... crazy... and scary... and not-logical... and since crazy and non-logical is actually quite sane and logical in crypto; this scenario may quite be what we see.
Again; these next days and weeks is going to be a big tell on which Scenario we go into. Keeping a close eye on how big the in-evitable pullback will be from this bounce off the bottom. And also how we recover from that pullback into waves or utter crap fest of in-decisiveness.
I overlay the big healthy alt charts over Bitcoin in both scenarios; at the bottom'ing and health re-test of different prices the big alts need to bleed to and hit; it looks like the timing is more on the side of Scenario #1.. but depending on how "low" those waves go on Scenario #2; it could possibly allow alts to break out.
It's trading; it's 50/50. I don't have Biff's almanac. Your guess is just as good as mine. I do know that during this weird mix or bull & bear bottom we are in; you get your daily 10% and get out.
Good luck..
Again; these next days and weeks is going to be a big tell on which Scenario we go into. Keeping a close eye on how big the in-evitable pullback will be from this bounce off the bottom. And also how we recover from that pullback into waves or utter crap fest of in-decisiveness.
I overlay the big healthy alt charts over Bitcoin in both scenarios; at the bottom'ing and health re-test of different prices the big alts need to bleed to and hit; it looks like the timing is more on the side of Scenario #1.. but depending on how "low" those waves go on Scenario #2; it could possibly allow alts to break out.
It's trading; it's 50/50. I don't have Biff's almanac. Your guess is just as good as mine. I do know that during this weird mix or bull & bear bottom we are in; you get your daily 10% and get out.
Good luck..
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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.