People say this cycle is different. But so far, when you zoom out, things are following the general trends.
- The white vertical lines represents exactly 4 years from the first cycle peak
- The blue measurements represents exactly 399 days after the white vertical lines
The trend (so far) is clear. Bitcoin has a cycle peak every 4 years, and has a cycle bottom...
With RSI being oversold, market sentiment going into earnings being very negative and low expectations for earnings, 140 dollars was a nice buy/DCA point
There has been a nice bounce off long term support on Tesla at 140 dollars in premarket
Where next?
Looking at the chart, there are two diagonal long term trendlines that price has bounced from multiple times...
Gold has been doing well. Newmont Mining (NEM) being one of the gold miners has seen a decent rally too.
NEM is overbought on the daily with a RSI over 70.
As we can see, we approached a diagonal downsloping trend line. There has been multiple hits on this trend line.
I expect NEM to pullback from here in the short term to about 28 dollars which would then...
