Will it hold?
We'll see - but I have to say it looks pretty damn convincing to me. There are of course various extremely bearish things going on right now: longs are outnumbering shorts nearly 3 to 1 (should be more like 1:1 ratio for a bullish move), crypto fear level is only at 40 (should be more like 15 for a big bullish move), we are below all major moving averages on most timeframes, and stochs are in the big "fake-out" territory. But I just saw this trend line.
Wouldn't necessarily jump into a big long based on it but maybe it is providing cause for hope?
We'll see - but I have to say it looks pretty damn convincing to me. There are of course various extremely bearish things going on right now: longs are outnumbering shorts nearly 3 to 1 (should be more like 1:1 ratio for a bullish move), crypto fear level is only at 40 (should be more like 15 for a big bullish move), we are below all major moving averages on most timeframes, and stochs are in the big "fake-out" territory. But I just saw this trend line.
Wouldn't necessarily jump into a big long based on it but maybe it is providing cause for hope?
