Don’t tell me I didn’t warn you on March 8th about this first break out! The was there:
However, those who missed this week’s huge spike on shouldn’t worry. Based on the 1D .
As seen on the chart since the price action crossed over the 200DMA (orange line) during the last bear market (that practically signaled the end of the bear cycle), every time the got over 83.000, declined at least -30%! In today’s cycle, depending on where makes the top, this puts the pull back to at least 3800.
Traders/ investors should be alert as the current consolidation/ accumulation period will offer a few buy signals/ entries before the next bull market completely takes over and leaves the current lows behind.
Below is such an example where the 1W and Mayer Multiple give the final Buy Signal within June and October:
P.S. Some evidence that the cycles bottom is in and we are on the early stages of the new bull cycle:
Published at Fri, 05 Apr 2019 06:27:32 +0000
