Bottom Officially IN. Final Dip Before Takeoff
Updated
Using the Hall and Co trading indicator a BSO (Buy Stop Order) has been triggered indicating a local top. We should've had one for BTC but it didn't rally high enough to trigger one. There WAS however a BSO event for ETH:
Looking back to the last consolidation period after the 2014 Bull we can see that there are two BSO Peaks and two massive dumps to confirm support at the bottom:
https://www.tradingview.com/x/65ZqyJ4I/
That is what we are seeing currently with the most recent dump in the past few hours. If anything it's happening rather soon, but it does also tie into the idea that we start going up properly in May.
Gameplan: buy as much of your favourite crypto once this hits rock bottom at the 3400 support area. If it breaks hard and wick down to 2k then that's a steal of a price. Most traders spread the "never catch falling knives meme" but really the bottom is in and the next final dump is commencing. We could have a third BSO Peak (which would be a never before seen BTC feature) but then it would bounce back to the lower 3000s again and find support. This 3k has been rock solid and I don't really see it breaking down.
Literally get as much fiat you have (that can be kept in internet funny money until 2023-2025) and put it all in when the dump finishes.
Looking back to the last consolidation period after the 2014 Bull we can see that there are two BSO Peaks and two massive dumps to confirm support at the bottom:
https://www.tradingview.com/x/65ZqyJ4I/
That is what we are seeing currently with the most recent dump in the past few hours. If anything it's happening rather soon, but it does also tie into the idea that we start going up properly in May.
Gameplan: buy as much of your favourite crypto once this hits rock bottom at the 3400 support area. If it breaks hard and wick down to 2k then that's a steal of a price. Most traders spread the "never catch falling knives meme" but really the bottom is in and the next final dump is commencing. We could have a third BSO Peak (which would be a never before seen BTC feature) but then it would bounce back to the lower 3000s again and find support. This 3k has been rock solid and I don't really see it breaking down.
Literally get as much fiat you have (that can be kept in internet funny money until 2023-2025) and put it all in when the dump finishes.
Note
Note
My above TA was done a month ago and now it is literally happening exactly as I said it would. Obviously memes don't always come true but it looks seriosuly likely then that this will be the final dump at the 3000-4000 area and we will never see this area again after bull returns. Maximum financial opportunity! Mortgage your house and use your student loan money to buy ETH... or maybe don't fuck yourself THAT bad but put at least a little in at the bottom. In a couple years time you can tell people you bought when bitcoin was still in 4 digits.
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.