Flux | Back To Basics (470% BU-Pot.) +Crypto Market DynamicsHello my dear friends, we are going back to basics looking at Flux, as I warm up, we can go deeper and deeper into the charts and trading psychology.
The drama is already on. The week starts now and we already closed last week with strong negative news and a potential catalyst for the major correction that is awaiting Bitcoin and the Cryptocurrency market. The correction has been ongoing for more than five months now but the last portion of it is not over, at lest for the crypto-giants.
Expect more astonishing developments and panic to set as the major low is hit in September. Once the correction is over, so will all the negative events. Positive news and events will start to develop before the market sentiment changes. Let me explain.
The last portion of the correction will create a strong feeling of doubt, fear and uncertainty across the market, this is normal. Once the bottom is hit the sentiment will not change over night. We will see, hear and experience positive news and events but yet people will remain negative and doubtful. After a while, say 1-2 months of positive developments and yours truly cheering for the market, the sentiment will start to change and light will shower us. So the bottom will be far gone by the time people change back to a positive mood. If you are prepared, you can buy when there is fear and doubt, aka., at the bottom.
When the right time to buy Bitcoin comes, it will feel like the worst possible decision ever as everybody will be panic selling. That's the best time to buy. The best time to sell is when new All-Time Highs are being hit, people are euphoric and ultra-optimistic. Think of March 2024 when and where everybody was calling for $100,000 the next week. It's been more than 5 months and the only thing happening is lower highs and lower lows (a downtrend).
I even had people yelling at me and insulting me because I was obviously deceiving people when I was warning them of the impending correction. People would say it was "the start of the bull-market." This at the top, the literal end of the bullish wave.
➖ Back to basics with Flux
We have the major down-wave on the left. Then a small bounce in October 2023 ending March 2024, and then the correction. Notice that the second —current, down-wave is much smaller than the first one. This reveals that the bearish momentum is over/done, lost.
As bearish momentum wanes, we get the start of a reversal; a bullish wave.
Thank you for reading.
Namaste.
