I know we are going to 0 with haste, but I thought it may be beneficial to just zoom out. If we distill the crypto market structure into a binary bullish or bearish framework, I think we can better analyze whether we should buy the dip or not.
When bullish, TOTAL1 should form a series of higher highs and higher lows.
When bearish, TOTAL1 should form a series of lower highs and lower lows.
Bullish from March '20 to April '21, Bearish from April '21 to July '21, Bullish from July '21 to November '21, Bearish from November '21 to December '22, and Bullish from December '22 to now.
The only question that remains is whether we are in the process of another higher low in a bullish market structure.
It feels like consensus is that this 4-month pump to begin the year is about wrapped up, but max pain may imply a continued grind up would leave most market participants shorting/sidelined.
For this reason, I suggest that we are in the process of forming a macro higher low and if successful, could see another higher high for BTC in before july.
Comments/Questions are enjoyed.
When bullish, TOTAL1 should form a series of higher highs and higher lows.
When bearish, TOTAL1 should form a series of lower highs and lower lows.
Bullish from March '20 to April '21, Bearish from April '21 to July '21, Bullish from July '21 to November '21, Bearish from November '21 to December '22, and Bullish from December '22 to now.
The only question that remains is whether we are in the process of another higher low in a bullish market structure.
It feels like consensus is that this 4-month pump to begin the year is about wrapped up, but max pain may imply a continued grind up would leave most market participants shorting/sidelined.
For this reason, I suggest that we are in the process of forming a macro higher low and if successful, could see another higher high for BTC in before july.
Comments/Questions are enjoyed.