Well folks, what we just saw was something that we have not seen in 8 months.
If you have been following me or no anything about bubbles and charts you will know how I have been consistently bearish since January of 2018. Every single “rally” has been a strong sell the news event and it has stYed that way. I knew the lows would be tested again and they were. The line held, not once, or twice, but multiple times over the last couple months.
The Support and resistance lines are very obvious as you can see the chart below.
The longer bitcoin has hung around this area the more bullish and less bearish I have become over the last few weeks. There is only ONE SIGNIFICANT DIFFERENCE between now and multiple months ago.
Sentiment
Yep, that is correct. The shorts are almost 50/50 now, which is much much larger than past numbers, and guess what else?
We now have crypto NOT going down on bad news, or not continueing lower on stop runs. This is huge! The swing in Sentiment you can see right before your eyes.
Look at the right of the chart, do you see the most recent spike down...that was bought backup in under an hour basically?
That is what you call a stop run/shakeout and now it’s an all out war within a $500 range.
If bitcoin gets above the 6600 mark I am expecting at least a 50%+ move AT MINIMUM...
Getcha Popcorn Ready
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by heyimsnuffles
