Hi folks!
For the record, I still believe that we will have a crash in most financial markets in not-so-long time.
However, the timing is extremely unpredictable (at least for me), so I trust more on the technicals than i normally do these days
(that is, because the markets are crazy these days, so I do not trust fundamentals to matter until the crash): Everyone acts according to the Bigger Fool Theory!
My view of a potential crash does not mean that we cannot see an even higher level of frenzy before the (rather inevitable) crash,
so I might be willing to make a punt on a short-term BTC-rally (albeit with a SL).
However, the market seems too unclear to make a punt right now, so I´ll wait for clarity.
From a technical perspective, we all know that:
- The broken trend line has yet to be retested.
- The wick down to 42k is yet to be filled,
- A MACD+RSI (RSI not shown in chart) divergence is in the brewing.
- The money flow indicator looks to be sneaking down to a buy level if we have a dip.
If we have another dump towards the 42-40k level, everyone of these buy signals will likely trigger, and that is when I will make a punt.
If the market runs away before that, I am fine with it - you should not make a bet if you cannot understand the why.
DYOR.
NFA.
Never take the words of others as a given - and never take advise from someone without skin in the game.
I wish you all well :)
For the record, I still believe that we will have a crash in most financial markets in not-so-long time.
However, the timing is extremely unpredictable (at least for me), so I trust more on the technicals than i normally do these days
(that is, because the markets are crazy these days, so I do not trust fundamentals to matter until the crash): Everyone acts according to the Bigger Fool Theory!
My view of a potential crash does not mean that we cannot see an even higher level of frenzy before the (rather inevitable) crash,
so I might be willing to make a punt on a short-term BTC-rally (albeit with a SL).
However, the market seems too unclear to make a punt right now, so I´ll wait for clarity.
From a technical perspective, we all know that:
- The broken trend line has yet to be retested.
- The wick down to 42k is yet to be filled,
- A MACD+RSI (RSI not shown in chart) divergence is in the brewing.
- The money flow indicator looks to be sneaking down to a buy level if we have a dip.
If we have another dump towards the 42-40k level, everyone of these buy signals will likely trigger, and that is when I will make a punt.
If the market runs away before that, I am fine with it - you should not make a bet if you cannot understand the why.
DYOR.
NFA.
Never take the words of others as a given - and never take advise from someone without skin in the game.
I wish you all well :)
