Possible end of Bear Market - Start of bull market
Updated
Hi all,
This is what I have been looking for to be making any call of "Bull Market".
I have been playing bearish quite a bit this year and seen a lot of bull market calls through out, none of which had enough to convince of an actual change in trend.
I see this as the strongest sign of a trend change now for the following reasons.
-Please see red arrows marked, these mark every higher low to occur, the blue arrows mark the higher high.
-This is the first higher high all year
-The downward weekly trend line has now been broken and with force
From here:
-The close of the daily candle is important to see if it can sustain this level, volume is also important if we can see a rise in volume on the moves upward and decrease in volume on the moves down we are looking good for confirmation of bull market.
-On the weekly over all the volume has been decreasing all year indicating a consolidation of the epic bull run from the last couple of years.
Let see :)
This is what I have been looking for to be making any call of "Bull Market".
I have been playing bearish quite a bit this year and seen a lot of bull market calls through out, none of which had enough to convince of an actual change in trend.
I see this as the strongest sign of a trend change now for the following reasons.
-Please see red arrows marked, these mark every higher low to occur, the blue arrows mark the higher high.
-This is the first higher high all year
-The downward weekly trend line has now been broken and with force
From here:
-The close of the daily candle is important to see if it can sustain this level, volume is also important if we can see a rise in volume on the moves upward and decrease in volume on the moves down we are looking good for confirmation of bull market.
-On the weekly over all the volume has been decreasing all year indicating a consolidation of the epic bull run from the last couple of years.
Let see :)
Note
So after posting this yesterday I have found out about Tether and Bitfinex. The fact that these Bitfinex charts are the only ones displaying this size candle does change my perspective a lot, BTC is still in a bearish down trend at the moment but regardless of weather this candle is an anomaly from this event it is still there, so the charts may still dictate a change in trend. Good Luck
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.