Short-Med term bearish, long term bullish ( i believe this cycle still has to finish correcting before we can start accumulating foe the next one). Just my own opinion but I'm seeing that everyone is all bullish because we've just had a pump, & people are now thinking we're in the Wyckof Accumulation phase.. Are we forgetting that the Wyckoff Distribution has 2...
My very novice TA. I suspected that 42k (8th Jan) was the peak of that cycle & it would dip from there probably to 28-25k over a week or so, say by the 18th feb. That process held off for about a week but is now in full swing. I estimate that it could go to as low as 22 & then pop back up, & follow more or less within the range (Yellow plot), more or less a in...
My first analysis chart.. Will it go up or down? Just having a wee play with the trend analysis tools.. It's hard to work out which way it will go from here. But i think it will follow the channels I've marked down.. I'm hoping it's upwards obviously haha! Let me know if ya think the potential lines are accurate.. Also, can someone tell me where to find the arrow...