Safety Trade Update and Sentiment Check, The Recipe for a Bottom

1The safety trade is losing stream and faking out the market here. Any buys on alts around the 80% dominance level have historically been a great area to accumulate alts at a discount.

So far so good on Total 3 still, higher lows, and 2020 November fractal still in play. Looking for a violent reversal to the upside by the end of this week.

The fractal looks identical to how XRP did in November 2020 right before it went on the parabolic run.

Could XRP be showing the market’s hand? XRP historically rises with the market, never alone. Could XRP’s spring out of accumulation be an early indicator of a broader altcoin recovery? Seems likely.

Sentiment has been in the gutter. You can see some major crypto YouTubers now calling off ‘Alt Season’, this is a great inverse indicator that we used last cycle in 2020 when Cryptoman Ran did the same thing on Dec 3rd, 2020. Is he the Jim Cramer of Crypto? Seems like it 🤷‍♂️. Now seems to be the time to be greedy and accumulate while the herd is fearful. Stay bullish my friends. 🐂