In Jan 2015 we had a 45% drawdown just within 1 month.
Now with the short alt rally, I would be extremely careful, as it could be a huge bull trap.
Does the sentiment chart look familiar to you?
3rd September marks the new 8.6-month-PI-cycle. We could have a final capitulation to 3,7k, followed by a despair stage to 2,5k(creating a wick on the monthly candle) just within one month.
The chart resets, and we slowly go up from there.
While everyone tries to catch 5,5k and 4,7k, it will be easier to stop them out of their positions.
Now with the short alt rally, I would be extremely careful, as it could be a huge bull trap.
Does the sentiment chart look familiar to you?
3rd September marks the new 8.6-month-PI-cycle. We could have a final capitulation to 3,7k, followed by a despair stage to 2,5k(creating a wick on the monthly candle) just within one month.
The chart resets, and we slowly go up from there.
While everyone tries to catch 5,5k and 4,7k, it will be easier to stop them out of their positions.