drawing trend lines. if S&P 500 start to retrace... I think btc can go down and fast...
if 11300 holds, we maybe can see something like this if we follow the pattern.
I still bearish, same pattern of the last cycle, we cross a down trend line and made a pump, with a new higher low.... and after this we made the real bottom...
In this chart you guys can see all the similarity off the cycles... I used colors to define the lines.. same colors in different cycles If you guys analyze all the cycles, you'll see that we always break the capitulation channel.... capitulations lines needs to break for a new cycle.... we act in the last cycle with the same movements... first we made a down...
Its just my point of view.... in this scenario , cycles are pretty connected. compare all the lines....
I Started doing the comparation with the this actual cycle and the last one, but now, I put all the three cycles together. And man, everything its so perfectly connected.. and for me, this is what we gonna play..... when I finished this, I couldnt sleep... You have to compare all the lines, with the color in all cycles, man, its a kind of art.... so perfectly conected
Sorry guys, I would like to be a little be more optimistic.. but this is the scenario.... and with this volume I know, Bear Market dosent end and bull market dont start with this volume... sorry
If you compare all the lines, movement and volume, you probably gonna start to think about this possibility. For me, needs to breake 10.000, and than we can forget this chart....
You guys gonna thanks me after this....
When I finished to draw all the lines, I got scared with the similarity.. I started to feel a little be bearish inside me... So, time for to be careful... And, I think, the bottom is not in the house....
Correction looks to be very close, but, till where is the question? gonna be a small breath, and then run again? or we gonna fall more?