It was about time to refresh this one, dating back 2019 / 2020.
Still valid so far, close to green support.
I'm wondering about the outcome.
Previous iterations:
2020
2019
Still valid so far, close to green support.
I'm wondering about the outcome.
Previous iterations:
2020
2019
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Miners capitulation started.
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NVT entering the support area.
Willy nearing oversold
CMF almost, but not quite there ...
All in all good R:R ratio for filling bids on weakness, especially in alts.
imho.
Willy nearing oversold
CMF almost, but not quite there ...
All in all good R:R ratio for filling bids on weakness, especially in alts.
imho.
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Longer term let's look at TD count on MONTHLY.
Usually 5th red candle sets bottom.
We have a decent 6th (may) and we're sitting on log support.
From here it's either confirm history, or write a new history.
Usually 5th red candle sets bottom.
We have a decent 6th (may) and we're sitting on log support.
From here it's either confirm history, or write a new history.
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So let's see june close.
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Weekly finally getting oversold.
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Here we go on CMF as well:
Make it or break it (mind it's 2W).
Make it or break it (mind it's 2W).
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CMF (W)
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Finally NVT(W) intraweek infraction:
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Dominance: the trap and the movement down towards support (43ish):
pretty close to 2015,2018 bottom.
Willy - 2W
Pretty close to oversold, but not quite there.
NVT - W
Close to "landing" zone.
Hash Ribbons
Final capitulation ahead or not ? Let's decide ;)
All the above seems to suggest that either price will have a final move down soon, followed by a strong bounce, or a bounce with happen soon, with a further low being painted within the weeks after that (if so there's a chance of a higher low or double bottom).
Keep an eye on hash ribbons.
Trend reversal usually needs to go through miners capitulation.