I can't stop thinking lately about this. I have a gut feeling that we're going to face a very violent trend reversal very, very soon.
Not talking about months, not even weeks.
Days! Only a matter of days!
Ok maybe a bit bold with that statement. I can't guarantee anything but... you get the point. I would get surprised if 'nothing happens' in 1/2 weeks.
I'm seeing that same pattern on ABSOLUTELY all the altcoin charts (also Bitcoin), but as expected altcoin price action will be much more violent (unless we're going into a 'BTC god mode', which is another different beast).
I'm going to use the AVA/USDT chart because I think it's one of the clearest examples out there. But don't get me wrong, if that plays out EVERYTHING will pump.
I'm going to use the 3D and Weekly charts because I believe these are the most reliable ones to spot long-term trends & to extract market information IMHO.
And I also need to support my own bullish bias... so, here we go.
Friendly reminder that's 100% speculation ;), so act accordingly.
AVA/USDT
Looking objectively at the recent price action, AVA had an 'only up' period which lasted since early January (1$ /AVA) up to middle April (6$ /AVA).
I also marked the recent support & resistance zones and the 200 MA.
At first sight, we could say that chart is slowly painting a bottom (surprise! no way to know until it actually happens and we start with the 'shoulda coulda' talks).
What about indicators? This is where it gets interesting.
I always use the MACD & the RSI. They're by far my favourite technical indicators because their combination allows you to make 'confluence' trades with a very high ratio of success.
Let's look at the 3D & Weekly MACD's
If you have been following me for quite some time maybe you remember an old guide of mine about the MACD. If that's not the case. I'm dropping below the link
The power of the MACD in long-term timeframes.
long story short: I'm seeing similar market conditions Vs. October 2020. And if that plays out means a +50% pump before further 'crab' consolidation.
In the weekly timeframe, might we need more time to paint a bottom (to resume the uptrend in Q4 maybe? Dunno yet). But IMHO we're far from done yet. We need another bullish YOLO round.
Something like this could be perfectly playing out. It's still early to know but the histogram might be moving slowly to the upside.
And what says the RSI?
Both 3D and weely RSI's tell the same story. But every judge has their own interpretation of course.
The last 2 times that we had this RSI levels were:
- March 2020 flash crash.
- October 2020 consolidation levels (after the summer bull run).
So? What's up then¿? I would say 'bottomish'. I believe that if we lose the 30K$ BTC support we'll have a short-lived flash crash followed by a few months more of crab market.
And what happens next? Check $DAG:
Constellation ($DAG) is a project that I've been comfortably holding for a while. Most of the time has a 'boring' price action but the fundamentals are strong.
This Q3 marks an important milestone in their roadmap as they're releasing a long-awaited update. What happened in terms of price?
The entire crypto market is on the verge of that massive run-up (and dunno what's left yet tbh; not selling anyway). I'm seeing a lot of people's sentiment change from bullish-bearish like a ping-pong match.
All the market shares a ~95,7% similarity with the charts that I posted today. If you're still holding, please don't capitulate. At least today. Just. Don't.
We're almost there.
Hold on.
Thanks for reading :)
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