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RE: Patterns Patterns Patterns - Here's an interesting one!
This is called a symmetrical triangle pattern..They contain at least two lower highs and two higher lows. Lines convergeas they are extended and a symmetrical triangle takes form.
Yes, the hope is for a break to the upside when it ultimately resolves, though the predictability of which way they will ultimately break is pretty much a coin flip.
I think its exciting to look at TA and charts, but remember the fundamentals. The dot com bubble was 10% of global stock market value in 1999 - around 5 trillion USD was in dot-com stocks. Most of that money was from the US. Crypto is global. Cryptos is a currency AND has utility beyond that. It basically competes with currencies, gold, stocks and possibly even debt.
But if we take away debt, we still compete against a over 100 trillion dollar market. I don't think 10% of that is unlikely levels to see bubble tendencies. I don't think this is the bubble. I think the bubble is at least 20x from here. Between 7 and 10 trillion USD market I would start to cash out around 10-20%. And then whatever you keep in there is possibly for your children or your pension age, unless cryptos tank forever.
300 billion market is less than what individuals has...its less than big companies. It's nothing.
I had not seen that 10% number before, do you have a source? That does provide some context for sure...
Very interesting numbers.