Waiting for the next Dip
If we look at the weekly chart, it is showing quite a clear pattern: three waves down followed by three recoveries. This brought us from 126k down to 57k. Now we are back at 65k.
Will there be another wave down? Will we really see another selloff?
While I always thought a final washout would be required to find the low of this bear market, I’m not so sure anymore. People have had months to sell. Sentiment has been extremely low for quite some time now. So what should actually trigger another leg down?
It could well be that 57k was already the bottom and that we will simply chop sideways for a bit longer, with everybody waiting for another dip that is never going to happen.
What if we climb from here after all?
What if 65k is the new 18k?
Back in 2022, we briefly dipped to 15k and everybody was calling for 10k, 6k, even 3k. But that was never going to happen, as we know now.
Maybe this time, it’s the same story…
