Making mistakes is okay, but repeatedly making mistakes is not. @CalebFranzen respects chart analysis and has turned bearish on Bitcoin. He stated that, in the long run, we haven't even seen oversold signals yet. 🫣

In a bear market, blindly following the crowd on every upward trend will only bankrupt you, or leave you exhausted and penniless. If that's your goal, then go ahead. I prefer to remain calm and composed. Trade based on the environment we are in… not the environment you want to be in.

I reviewed the positive data. I reviewed the negative data. Then I came to a conclusion. In my opinion, the price movements of stocks and Bitcoin this week were entirely in line with my expectations. Click here to read the full report:

The Nasdaq 100 index is below its 21-day moving average and pivot low AVWAP.

For privacy reasons, I will omit their names… But these experiences fill me with immense pride for the research I've done and the value I've created through Cubic Analytics. Precision, composure, and data-driven—that's what I strive for. Welcome to the senior team 🧡 Link in my bio.

After Bitcoin broke below the lower limit of the bear flag (regression channel), it seems that in addition to breaking below the 21-day exponential moving average, it also encountered resistance at the lower limit.

In a bear market, blindly following the crowd on every upward trend will only bankrupt you, or leave you exhausted and penniless. If that's your goal, then go ahead. I prefer to remain calm and composed. Trade based on the environment we are in… not the environment you want to be in.

Bitcoin bulls are cheering, but Bitcoin's price is still trading below its 21-day moving average. And the 55-day moving average. And the 100-day moving average. Oh, and the 200-day moving average. Oh, and all of these moving averages are declining. Pro tip: If you want to go long in an uptrend, an uptrend requires the price to be above the moving averages. Just look at the charts… You just need to go long after the price breaks above the 21/55/200-day moving averages, and then follow the trend. We're still a long way from that. Perhaps some people's bullish judgment will prove correct. If that happens, the price will break above the moving averages, and I will be bullish.

Yesterday, crude oil futures prices hit their lowest daily closing price since February 2021.

Oversold readings in a bull market are a bullish signal. Oversold readings in a bear market are not a bullish signal. Hope this helps.