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Tbh guys I see that the market could go into consolidation mode or bear mode for a while
It could repeat 2013 too, meaning 64k is our first peak and then we go out for a while then go up to form a second peak (Easily above 100k)
We could go into consolidation or bear market for few months maybe even till 2022
Of course we have a bull scenario too, but now all people are happy and buying and usually it is a bad sign. Hope we go with the bulls scenario but I am just telling you always keep in mind the unexpected especially in crypto.
Furthermore, if we go bear I think our bug bottom would be 20k because we broke the level and never retested it properly. But we could and better to stay above 30k.
Also if the weekly candle close will be below the 21 week EMA we could see a continuation to the 200 Week SMA at it did before many times.
However, entering a little bear phase is actually good for the market and healthy. We will see new entrances, new companies and investors that will hold as support and pump the market to new high (if this happen quickly we could pump from here).
This market cycle was far too quick and that is why I think we will wait for a while, even though people will argue that this time is different, I agree but still you should be careful.
To see Bull signs, I think we have to see weekly above 21EMA and daily candle above 45k. on the short term, then above 50k mid term.
...................................................................................................................................................................................
What do you think?
Good luck traders,
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
WHY FOLLOW?
• 4 Years of experience
• Daily trades
• Daily updates
• Best Entry Points
• Important Zones
• TP/SL
...................................................................................................................................................................................
Tbh guys I see that the market could go into consolidation mode or bear mode for a while
It could repeat 2013 too, meaning 64k is our first peak and then we go out for a while then go up to form a second peak (Easily above 100k)
We could go into consolidation or bear market for few months maybe even till 2022
Of course we have a bull scenario too, but now all people are happy and buying and usually it is a bad sign. Hope we go with the bulls scenario but I am just telling you always keep in mind the unexpected especially in crypto.
Furthermore, if we go bear I think our bug bottom would be 20k because we broke the level and never retested it properly. But we could and better to stay above 30k.
Also if the weekly candle close will be below the 21 week EMA we could see a continuation to the 200 Week SMA at it did before many times.
However, entering a little bear phase is actually good for the market and healthy. We will see new entrances, new companies and investors that will hold as support and pump the market to new high (if this happen quickly we could pump from here).
This market cycle was far too quick and that is why I think we will wait for a while, even though people will argue that this time is different, I agree but still you should be careful.
To see Bull signs, I think we have to see weekly above 21EMA and daily candle above 45k. on the short term, then above 50k mid term.
...................................................................................................................................................................................
What do you think?
Good luck traders,
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
