After looking at the charts once they have cooled down, we can see that the completion of an inverse H & S pattern seems to have landed perfectly in place with the right shoulder... After 26 billion dollars left the crypto market over night and now sits at 224 bill, this looks like the perfect time to "buy the dip". The Fear and Greed Index is at 19 and patterns like the inverse head and shoulders and the cup and handle have been completed. These are months in the making, not to mention that pesky CME gap was filled today. I'm longing this market now.
However, there is caution. If we do break the fib line at 7300, we are heading down to 66 based on VPVR.. So manage your risk vs reward here. The Stock Market has continued its down fall correction. Banks are beginning to default around the world, not to mention that Oil fell by 30% and the USD is now value at 94 cents. Again, I'm longing, however, this is not advice. :-)
What are your thoughts?
- NCCM
However, there is caution. If we do break the fib line at 7300, we are heading down to 66 based on VPVR.. So manage your risk vs reward here. The Stock Market has continued its down fall correction. Banks are beginning to default around the world, not to mention that Oil fell by 30% and the USD is now value at 94 cents. Again, I'm longing, however, this is not advice. :-)
What are your thoughts?
- NCCM
