The BULL market?

"Bit Brain you have lost your mind! Everyone knows the market is bearish!"

Oh no it is not!

I've told you before, the driving force behind the bear market ended in February already!

I maintain that the the back of the bearish market was broken when the bears ran out of steam over half a year ago. A week into February the bears hit and formed the new BTC support level at about $6k.
BTC has not dropped below the 6 February bottom!

And since I've already also explained why BTC is King and the implications thereof, as well as pointing out that the market was turning three weeks ago, the heading of this post should come as no surprise to you!

One month into the bull market

Any real investor knows that the market is mostly comprised of people who:

• follow the herd, and
• are normally wrong.

These are not my words, they are the words of the most highly experienced traders and investors, people who command respect in the trading and finance. There are literally too many of them to name. Feel free to verify this information yourself if you so wish.

And yes, the majority still feel bearish about crypto, to their own detriment and at their own peril.

But I'm not stupid (the clue to that is in my name), I know how you think. Sad reality check: chances are that you reading this, yes you, are one of "the herd". No the rules still apply to you and you're not "special", that's just something that Mommy used to say to you because, well, that's what mothers do. So remembering that you're probably one of the herd, I can't rely on your critical thinking ability. It's not to say that you don't possess it, but chances are that it gets overridden by the general sentiment of the market. Very few people are brave enough to go against a market. Almost everyone thinks they are, and almost everyone is wrong. (Don't worry, it's part of being human.) But fear not, Uncle Bit Brian knows what you need, you need tangible evidence! And Uncle Bit Brain is here to provide it!

Of course if you were paying close attention then you would know that I already did that when I spoke about "The significance of the latest price surge". (That's already the third time I've linked to that post in this post, I must be going for some sort of record.) However, I know that you require more confirmation. I know that you don't believe me yet because you have heard many more people saying the exact opposite. I know that statistically you are probably someone who chooses quantity over quality... Oh well, I can't make up your mind for you, all I can do is to lead you to the water:

Let's see what evidence I have brought for you today:

Today I bring you the news that the leading coins have already turned bullish.

"Leading" is an ambiguous term. By "leading" I don't mean the highest market cap coins, I mean those that are doing interesting things or which have otherwise found some method to attract investment. The fact is this (and a fact it is, there is no disputing it): some coins bottomed out a month ago and are now climbing slowly and and at a gradually accelerating pace. The logical (if somewhat early) conclusion is that they will continue to pick up momentum and that other coins will join them.

This news should also not surprise you. As you will soon see, the trajectories that these coins are following are almost exactly like those "curved" lines that I described in this post yesterday.

Remember these?

Made by Bit Brain with TradingView

Now let me show you those coins that are leading the market, and exactly what I mean by that. From this point onwards the post will become visual in nature. Regular readers will know that I like this approach; I always want my readers to see things with their own eyes, to understand them and above all, to make up their own minds. Please guys and lady-guys, don't let the herd make your choices for you. Be brave. I know it's hard.

Behold:

There is an example. This is Request Network (REQ). I chose it because it is a pretty typical example of what I am talking about. I will show you with REQ how things fit into the bigger picture, and then for the other examples I will just show you the more recent and relevant data. The chart below shows REQ in 2018:

If I draw a trend arrow in, you can see that it compares with those arrows from yesterday's post:

From coinmarketcap.com ; modified by Bit Brain

The important part is the far right of the chart, i.e. the part that shows that REQ has already turned bullish.

Let's zoom in a bit. This chart is important: it shows when the turn around happened. It varies from coin to coin, but most of those which are now bullish became bullish after the general market dip and recovery which took place on September 12. I consider September 12 to be the turnaround point of the market:

This chart below is the picture I will show you for most of the other coins: the most recent month or so. In some cases I may go back a little further, either to show a climb which started a little earlier, or to compare the climb to the previous drop in price. Here is one month of REQ price data. Bullish. Clearly bullish.

Another small semi-example before I get into the rest of them. Here is the year's price data for Elastos (ELA): (spot where the curve bottomed out and turned bullish)

And here is ELA over the last month. Also clearly bullish.

With ELA I went back in time a little further so that you can see where it turned. Note that it missed the September 12 turn, but instead turned a few days later, around September 21.

Now on to the rest:

This one below needs a little mention. I did a case study on ultra low market cap coins, using ARCT as an example. Use this information as you see fit. Remember: be brave. Small risks = small profits and losses. Big risks = big profits and losses (which is why I am here to help). No risks = no profits and losses. DYOR.
See these posts:

• https://steemit.com/cryptocurrency/@bitbrain/i-bought-it-should-you-arbitrage-crypto-trader-part-1
• https://steemit.com/cryptocurrency/@bitbrain/i-bought-it-should-you-arbitrage-crypto-trader-part-2
• https://steemit.com/cryptocurrency/@bitbrain/i-bought-it-should-you-arbitrage-crypto-trader-part-3
  
  

The somewhat jagged graph of carVertical shows the same trend. The jaggedness is due to a combination of very low price and the fact that its price is governed by BTC sats. Each one of those little changes is a 1 sat change. It is seldom traded in ETH.
Bit Brain Hint: when you see "hairy" or "jagged" charts like this it is often the sign of an immature coin which is trading way below value!

I still hate ETN for making an absolute dogs' breakfast of their ICO and launch (losing me a small fortune), having the worst management I have ever seen and for having the weirdest lunatic zealot fan base in the crypto world. But like it or not, ETN has joined the bull market:

Metaverse ETP looking very impressive!

A coin you never hear about, but which has been performing solidly for a while now:

After an inexplicably long-duration drop for no apparent reason, PRL has been performing brilliantly for the last few weeks!

..and of course the sister of Oyster Pearl: Oyster Shell

THEKEY has been looking very strong lately.

UTrust is going to be a household name some day. Probably. I love it and I hold quite a bit of it.

Highly undervalued, another ultra-low market cap coin that is well worth investing a few dollars in.

Another very strong performer: (I wish I held it, but I don't)

Well there you have it. More evidence of a bullish market in its infancy. Make up your own mind - the sooner, the better.

A note on the coins I chose: I just grabbed a few of those I thought had been performing well lately, and then chose from that group those coins which fitted the profile I describe in this post. All the coins are either Top 100 CMC coins or those which appear on my personal CMC Watchlist (coins I hold). There are many lesser examples of the same trend and there are certainly many other examples which I have not included. I was only picking a few coins here, this is by no means a comprehensive or even a well researched list. Of course there are also many coins which are not bullish yet and do not follow the trend discussed in this post; this post is not trying to indicate that all the coins have turned bullish yet, just that the bullish trend has started.

Please excuse my passive aggressive sarcasm and condescending tone earlier in the post. You would feel this way too if you were always fighting a stubborn majority that was always wrong.

All charts in this post are from coinmarketcap.com unless stated otherwise.

Yours in bullish crypto,
Bit Brain

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by Bit Brain

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