"Horror vacui" Natures abhors a vacuum. -Aristotle. SHORT
The physics postulate holds true with markets of all kinds. Thin zones like to get filled. They also serve as support and resistance as we saw a nice bounce when price tried to fill the thin zone the first time. Really I'm just looking at that expanding ADX trendline and DI- and I'm just not ready to call this anything close to a bottom yet. RSI is pointing down again and I still feel like even though that was a big bounce it wasn't the big capitulation move I think is still coming. Thin trading zones await below us and while the ADX is pointing up I have to favor (some of) those zones getting filled. I'd rather be short my little ETHBTC and LTCBTC -1.99% plays right now and be patient before I start using my main capital to buy back because no one can say with certainty what's happening right now. However I am absolutely a long term bull . Making a positive case for the future, we can see DI+ has been in a falling wedge all year, and when that finally breaks out it will be pretty massive. DI+ is close to the bottom in that wedge . It will be pretty crucial to watch and make sure it bounces there because if it busts through the bottom it might get ugly. Just wait until our ADX starts to roll over before even thinking its a bottom and watch the DI- to break its rising trendline . Good luck trading (or sitting like me).
Related publications
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.