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Things are looking positive
And apart from a sweep of the $60k lows, the macro bottom is starting to look like it is in.
I see a lot of confusion on the timeline at the moment about what happens next.
One thing we have to acknowledge is that this bottom formation has built up a lot of liquidity beneath its lows.
And the whole time we are below $85k, those lows are a target we have to be aware of, and prepared for.
But we also have to be prepared for the situation in which they don't, which is why I have been adding positions over the last weeks.
We are above the 1W 200 EMA on the weekly timeframe, and the 1D 50EMA.
Once we are over the 1W 50EMA, we are in the clear.
The whole time we aren't, the 1W 200SMA is on the cards for a low sweep at $58k.
My NFA?
Do not try to time the bottom, DCA positions and be aware of all potentials so you aren't pushed and pulled by FOMO or Fear.
We reached the record levels of oversold on many metrics...
If you aren't scaling in during that time, i do not know what else to tell you.
The bottom can form in many ways, and its impossible to actually know.
But we can know that we are close, and that is enough.
If you wait for lower, you will always wait for lower.
If you don't pull the trigger, you will FOMO higher.
Be aware of the outcomes, DCA your bags, and chill.