To be clear, this is not a call for a dump. Hope for the best, plan for the worst (buy the dip).
Bear observations
> strong bearish engulfing pattern
> price moved into extremes > 3 std. deviations
> possibility of mean reversion
Case to buy the dip at the 33k level
> 4 levels of confluence
1. Demand Zone
2. 50% fib retracement level
3. Channel mean
4. EVWMA perfectly lined up with regression channel mean
Excellent level for a heavy reload.
Reminder; this is not a call to short the market.
Buy discounts in this bull market.
Bear observations
> strong bearish engulfing pattern
> price moved into extremes > 3 std. deviations
> possibility of mean reversion
Case to buy the dip at the 33k level
> 4 levels of confluence
1. Demand Zone
2. 50% fib retracement level
3. Channel mean
4. EVWMA perfectly lined up with regression channel mean
Excellent level for a heavy reload.
Reminder; this is not a call to short the market.
Buy discounts in this bull market.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.