Thread by @kenoshaking

$BTC: $4,300, a target I've been calling for for months, has now been met...

1/ Have we bottomed?

With the evidence at hand, I don't think so...

2/ Reasons why I believe this is the case:

a. Exhange volume is nowhere near post-capitulation (after a knife catch), at least as of this moment. Will let you know if this changes.

b. FA indicators a just starting to trend into equilibrium (not there yet in the least).

3/ This is a setup for a nice dead cat at least. Below are the major resistance and support lines. The thicker the line, the better the level IMO.

Price will tend to stick to the $4,300 PoC to negotiate value at these levels, consolidate around it, and then test the greens:

4/ NVT ratio is barely returning to equilibrium (image 1).

I would like it to be well within bounds to call for a bottom (arrow in image 2).

5/ As @PositiveCrypto has said, Network Momentum is just starting to gain, which historically sets up further capitulation in immediate price action.

See the "momentum" stage in 2014-2015 below. This is just starting, it seems.

6/ In terms of exchange volume, the pic below shows the stage of the cycle I believe we're in.

If this is the case, $2,800 just became my number one target.

Fin/ Unless I see $4,300 or $3,800 hold, backed with a knife-catching positive volume spike, I'm holding for on-chain volume to give me a clearer signal that accumulation is taking effect.

If this move surprised you and the $4,300 high value node is breached, brace yourselves.