I pulled the fractal from the 2019 bear market and flipped it. It seems as though we are currently in a macro accumulation phase, where we just formed the Sign of Strength in Phase B by taking out the highs from the Automatic Rally. On a smaller time frame, this entire channel upwards has been a re-distribution forming. You can see a daily bearish divergence already forming on the RSI (marked in white) and on top of that, on the weekly we are setting up a more local distribution on both BTC and ETH. Each of them has a 123 setup on the lows to go along with the distributions. See related ideas. BTC has a 3 day bearish divergence as well.
The theory is that we will see our real bottom in December of 2023 and it will take out the lows from the Selling Climax from June of last year. The real bull run will start in 2024.
What are your thoughts?
The theory is that we will see our real bottom in December of 2023 and it will take out the lows from the Selling Climax from June of last year. The real bull run will start in 2024.
What are your thoughts?
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Not only is there a bearish divergence on the daily RSI, it's also on the momentum waves right now too. This idea looks more and more likely to play out as planned
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Oh man what a beautiful trade this turned out to be!
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This might just turn out to be the call of the year. Dump it!!!
