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For those who have been following our charts on Tradingview and Telegram, you know we have been offering a unique perspective on the market for quite some time. If you remember well, we were the first to point the double rising and falling at the current levels on both and (see link at the end of the post to related ideas that was posted a month ago for ).
On this chart, you can clearly notice how we mirrored bitcoin’s Bear Market in 2011 by performing double rising (in blue) and falling (in orange) on above two support levels $180 and $102. If you look carefully at our log chart, you notice that the action through the Bear Market is roughly 85-90% similar. So what’s the take away from this chart?
Based on this analysis, it is safe to say that:
1. has very likely bottomed at $84-80 in this Bear Market
2. We are currently in a very long sideways range above $125 that started from February 22 until April 15 (maximum May 1st). We have delimited with a red vertical line on the chart on April 15 where most likely the shake out and will happen.
3. Sometime around April 15 to May 1, when the distribution has been completed at the $125-150 range, will wash down in a strong shake out to $84-80.
4. That shake out will aim to get rid of all the inexperienced traders who bought near the resistance and put a proper bull reversal through a big at $84-80. 5. $84-80 is where you can look to fully buy back on (you can mirror the buy on almost all ALTS – except the ones that have no future)
6. Meanwhile, until the sideways above $125 ends, ALTS will randomly start or seek to continue their bull run.
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Published at Sun, 24 Mar 2019 15:43:14 +0000
