The Knife is Falling - Double Bottom?
מעודכן
Here is a comparison to the previous drop to $6,000 and looking at the hourly price action and oscillators we can see some good similarities. A double bottom isn't out of the question, but neither is going lower to the previous ATH -2.70% below $5,000 as well as some good support levels at around $7,500.
This is a falling knife... if you go SHORT just let it fall and either stick at the bottom with some sideways or close out once there is a big V bottom like last time. Even if you miss a bit of the bottom you will for sure get plenty of meat in the middle on both the DOWN and UP.
Traders Dynamic Index ( TDI 0.28% ) is showing were we crossed the midline (orange) and have started to fall in to the BUY zone territory, but we should wait like before for the orange line to start to leave the BUY zone, not as it enters. The widened yellow bands show plenty of strength in the current direction so that is how we know we can expect a large movement down.
Magic Unicorn Dust (Modified VIX 5.38% Inidicator) is mostly good for picking bottoms, but as we can see it also pinches together or gets smaller (blue/white bands) at the top when it is getting closer to a drop down. The green bars help to show impulse waves and once they remain gray it is usually a good time to go LONG if the close is higher than the previous 3-4 days. Another indication that the bottom is nearing a reversal UP is when the bands start pinching together at the bottom of the indicator.
This is a falling knife... if you go SHORT just let it fall and either stick at the bottom with some sideways or close out once there is a big V bottom like last time. Even if you miss a bit of the bottom you will for sure get plenty of meat in the middle on both the DOWN and UP.
Traders Dynamic Index ( TDI 0.28% ) is showing were we crossed the midline (orange) and have started to fall in to the BUY zone territory, but we should wait like before for the orange line to start to leave the BUY zone, not as it enters. The widened yellow bands show plenty of strength in the current direction so that is how we know we can expect a large movement down.
Magic Unicorn Dust (Modified VIX 5.38% Inidicator) is mostly good for picking bottoms, but as we can see it also pinches together or gets smaller (blue/white bands) at the top when it is getting closer to a drop down. The green bars help to show impulse waves and once they remain gray it is usually a good time to go LONG if the close is higher than the previous 3-4 days. Another indication that the bottom is nearing a reversal UP is when the bands start pinching together at the bottom of the indicator.
הערה
Well I think I may have missed the timing on this one... Seems like we hit the bottom already and are looking to go UP... This updated chart shows the fractal candles further back and higher and it matches pretty god with this most reason bump UP.
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