Ok apart from the humorous title, what I want to make clear on this chart is that has entered the final stage before the lift off. Before every low is higher than the previous. Before the new bull cycle essentially begins.
How that happens? Well for starters we can, with a high degree of certainty, say that the bottom is in (priced on December). The reason is clear on the chart particularly on the support offered by the parabola.
So where are we now? Well sits on a tight squeeze within the weekly MA50 (applying Resistance) and the MA200 (applying Support). In the previous cycle the final test of the MA200 signaled the start of the new uptrend. Why? Because the MA50 was crossed emphatically and became a support ever since until the new All Time High. So when these two conditions are met, I expect a non-stop rally to take place.
I would consider the Halving also but I don’t want to make the chart too complicated.
After all trading has been and still is pretty simple because every cycle is fairly similar to the previous one and follows a specific set of rules. If you are an investor, wait for that long term buy, forget your investment for 2-3 years, come back and profit. If you are a trader, buy on every pull back during the bull market and sell on every rise during the bear market.
Now why I say this? Because traders can wait for that pull back for the final test of the MA200 to reload longs, as I have been making quite clear on my last analyses (see below), while investors can feel pretty comfortable accumulating more coins on every pull back.
Are you waiting for that magical moment too and start the party??? Let me know in the comments section!!
Published at Sat, 13 Apr 2019 08:05:30 +0000
