BTC TO $58k No matter what!!
There is a strong correlation between the correction in May and the most recent correction which caused massive liquidations due to the greed and over leverage in the market, which was told to you in advance to expect.
Following any big liquidation event it takes time to recover and get money back into the market but often you will see a false breakout during the accumulation stage and this was seen both in May and most recently.
Another common occurrence when you have a big liquidation event with a long wick is that we generally see the lows of that wick being filled with solid candles sometime after and this is happening now.
IMO We won't have another crash without having a bullish correction/rally in-between - in which case we should see 58k no matter what and this will allow you to leave the market between $55-58k if the bulls cannot break past 58k.
According to on-chain data, whales and institutions are still buying. I am also staggering buy orders between $40-43k and accumulating with the whales.
Todays Fear & Greed index reads 18 (Extreme fear) and we all know your meant to buy the fear and sell the greed, you just need the conviction when the price is down to buy it and avoid the psychosis the market plays on your traditional physiology.
If you like this analysis please like and share.
Send me a msg to join private group chat.
Following any big liquidation event it takes time to recover and get money back into the market but often you will see a false breakout during the accumulation stage and this was seen both in May and most recently.
Another common occurrence when you have a big liquidation event with a long wick is that we generally see the lows of that wick being filled with solid candles sometime after and this is happening now.
IMO We won't have another crash without having a bullish correction/rally in-between - in which case we should see 58k no matter what and this will allow you to leave the market between $55-58k if the bulls cannot break past 58k.
According to on-chain data, whales and institutions are still buying. I am also staggering buy orders between $40-43k and accumulating with the whales.
Todays Fear & Greed index reads 18 (Extreme fear) and we all know your meant to buy the fear and sell the greed, you just need the conviction when the price is down to buy it and avoid the psychosis the market plays on your traditional physiology.
If you like this analysis please like and share.
Send me a msg to join private group chat.
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.