I said In my last post I will buy 21. w EMA test and I did at 40k :p. And it did not hold lol. I think everyone was expecting it, thats probably why, and the fud at that time.
But anyway, I think we retested 30k as the floor for the next bearmarket bottom, was this the biggest BTFD ever, or are we entering a bearmarket and the bounce now is a deadcat bounce?
Technically we went into a bear market when we had our death cross, the 50 daily moving average (green line) crossed down below the 200 (red line). But now that we have reclaimed it, I will be superbullish if we get the 50 cross up over and confirm a golden cross. Thats the definition of a bullmarket.
On chain data and fundamentals are strong, nothing has changed. In my opininon this was the last shake out/bear trap before the last phase. I would love to hear 
I belive we will move up, reason for why I think so? We have the same similaritis as the covid crash, fear index was 11, it was extreme fear in 2 months, funding was favoring bullishness and it still is. Miner capitulation and now we have a buy signal from the Bitcoin hash ribbons. Last time I wrote about it was the buy at 7,5k, and that played out well :) -> Bitcoin Hash ribbons gave a buy signal today!"
Max drawdown on signal from the Bitcoin Hash ribbons throughout history is on average 11%. Check previous post to see table.
I belive we will move up until funding flips bearish before a decent pullback, as long as we are above red 200 daily moving average this chart looks very bullish to me. Only if we start to trade below again I will reconsider, but to be bearmarket bearish I need closing candles below 30k.
Is 2nd alt season incoming? BAT/USDT gave a buy yesterdayI think so, alts have been flipping local resistance into support, after 3 months of correction they are showing signs of reversals, making higher highs and higher lows. And now they are showing buy signals on my custom trading strategy, a script in tradingview to visualize it :) Just as in january-february it was giving buys, and we had alt top's in may, after 2-3 months of correction they are starting to show buy signs again. Or is this just a fakout and bulltrap?
I bought a BAT bag as I did in january, lets see if it will play out again :) Many coins have the same setup, and some already pumped like ADA.
It has a good win ratio, both confirmed signals (yellow mark above/under) on BTC and ETH ytd have been wins.
Please do follow if you want to keep up with my next trade post. Any upvotes or reblogs are hugely appreciated!
Latest crypto post, check out :
12 days later and hey 12k - A quick update on my previous BTC post"
Christopher
Kristiansand, Norway
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