A Contrarian View on the expected bear market continuation
A contrarian trading idea on BTC's weekly chart:
While almost every decent trader (even myself) is expecting the bear market to continue after this mini-August rally, I do think it's worth considering going long on BTC till end of year. Here's why:
Everyone seems to think that this mini bull-run will cap in the $7.500-8,500 range, and that the 2018 bear market will soon continue and go below $5.8k
It's precisely why I'm being more open to a contrarian view on that:
my best hunch is that the bear market could've actually ended & the Q4 bull market has begun....
Nevertheless, if the above plays out, most traders will probably only realize that at end of September.
#theTrendIsNoLongerYourFriend upon bear-to-bull market reversals
While almost every decent trader (even myself) is expecting the bear market to continue after this mini-August rally, I do think it's worth considering going long on BTC till end of year. Here's why:
Everyone seems to think that this mini bull-run will cap in the $7.500-8,500 range, and that the 2018 bear market will soon continue and go below $5.8k
It's precisely why I'm being more open to a contrarian view on that:
my best hunch is that the bear market could've actually ended & the Q4 bull market has begun....
Nevertheless, if the above plays out, most traders will probably only realize that at end of September.
#theTrendIsNoLongerYourFriend upon bear-to-bull market reversals
Commento:
right on track!