Simple chart and a conventional buying zone.
Lagging indicator death cross tbc later in the month, expect bear fomo in that period - note: 1 month after our previous death cross mid 2021 we pumped, 29k was a good buy.
Looking at RSI we've got a small DB on the daily with potential to breakout in coming weeks.
Trend line is obvious support, defence been in play at key points over the last few days, we are also in a strong support area as illustrated, loss of trend line will not be fatal - am expecting some trickery from our MM'ers, 38k not off the cards to bring in the volume.
IMO - bullish
Hope everyone had a wonderful festive period
Lagging indicator death cross tbc later in the month, expect bear fomo in that period - note: 1 month after our previous death cross mid 2021 we pumped, 29k was a good buy.
Looking at RSI we've got a small DB on the daily with potential to breakout in coming weeks.
Trend line is obvious support, defence been in play at key points over the last few days, we are also in a strong support area as illustrated, loss of trend line will not be fatal - am expecting some trickery from our MM'ers, 38k not off the cards to bring in the volume.
IMO - bullish
Hope everyone had a wonderful festive period
Note
Just for interest/hopium - the market is different now. This is what happened in 2013 when we revisited trend, RSI in the same area.
Note
Where todays dump bounced Note
Double bottom on the daily Note
Breakout rejectionNote
:bull:Note
How the RSI break out played with downtrend breakoutNote
Death cross appears to have confirmed the bottom at 32k.A view now of where we are in the market with bullish super cycle still in tact
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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.