Depression
GOOD DAY, CRYPTO FAM!
I have something to share with all of you, something very interesting yet simple to see as always if you just open your eyes.
This will give you an interesting look on where the market is right now and what to expect in the next weeks and months.
Also i’ll be including updates 💎
Depression
No I’m not depressed, but many within the crypto industry are becoming very depressed as price is basically doing nothing and most are waiting for that pump/dump that never seems to come.
But that is what depression within the market looks like… the depression phase is made to throw you off guard and make you give up which leads to minimum accumulation which than equals that whales have more to buy.
Don’t fall for the trap. Don’t be depressed or impatient.
Do your life as normal and don’t focus to much on where price will go as it will be going nowhere anyway.
But what do I know exactly mean with “depression”?
Some of you might know the “Wallstreet Cheat Sheet” and I need you to compare that chart with my chart.
See it and you’ll understand that this “depressive” period is your LAST chance to accumulate, cause once its done and prices go up there is no logical reason in buying
Buy low, sell high. A simple concept.
Please compare ⬇️
We had the impulsive move to the downside which was
“Anxiety, Denial & Panic” at the same time which led to capitulation and anger.
Once we hit our current low at 15K we entered the longterm depressive period which will still keep on going for a little while. Hence why its called “depression”
Once disbelief starts, we know we are on a recovering way.
Technical analysis bitcoin
Bitcoin is still ranging around but I do feel we’ll see a direction by mid next week most likely.
As for now I’m paying attention to 2 levels on bitcoin which will decide which direction BTC will go for that moment.
A break under 29k will lead to bitcoin going toward 28.5k (target 1) and potentially lower as well direction 27.3k (target 2).
But as long as we remain within the (potential) reversal pattern we might have the chance to breakout bullish but confirmation is only there once BTC manages to break above 29.5k which would give the opportunity to re visit 30.2k and maybe higher.
Technical analysis Ethereum
Ethereum also has been an extremely slow mover lately but that’s alright, this gives us opportunities to buy in with peace.
My outlook for ETH is simple and as always, bitcoin will decide that direction.
A break under 1830 would be considered bearish and leave options open to see downside toward 1770 and 1700
A break above 1880$ would turn me slightly bullish and we might see 1940 resistance back which will be crucial to break above.
Let us now analyze our most crucial chart, one that helps us extremely good when all the rest is not clear…
Remember this chart forever and use it in alignment with your trading and investing decisions and see your profitability and entries better instantly.