Blur | The Bright Side & Market Cycles (222% - 644% Bullish Pot)

20 aoûtI am always looking at the bright side; the positive. BLUR produced a major bullish wave coming out of a strong support late 2023. This is true for most of the cryptocurrency market.

The end of the bullish wave led to a correction, classic, and this correction ended in a lower low. A lower low is normally interpreted as weakness, here is the bright side. The fact that we have a lower low signals that all weak-hands have been removed. All the stop-loss order that were set at the late 2023 support, were activated and people sold at a loss. Once this stop-loss hunt event is over, there are no sellers left. No sellers left can mean that strong growth is now possible because the correction went beyond 100%. That's the bright side of a lower low.

Higher low or lower low doesn't really matter... The market moves in cycles; up and down, up and down, up and down... The last wave was down, we are set to go up.

Namaste.

7 sept.

Commentaire

This pair looks better now than when it was initially published, because there has been some consolidation. The longer it consolidates while maintaining the same low, the stronger the bullish bias becomes.