STEEM & Bullish Wick = Lift Off
SUMMARY
STEEM has made what looks to be like a bullish wick. This is when price briefly pierces the lower support line and then quickly moves back inside. In this way, weak hands are cast off and it is how the setting of a price launch pad is established. The weak hands are dead weight! I see so many have emptied or cashed out their Steem wallets...many of these had also purchased steem power with cash at higher prices. It is the classic buy high and sell low scenario. Mark my words, they shall be infested with FOMO once STEEM breaks out and they will be the ones jumping back in at higher prices, only to repeat the vicious cycle of buying high and selling low. You do NOT want to be part of that tribe!
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
What's funny is that I bought Steem at 87000 satoshi in June 30000,29000, 15000 in October aND I think 13000 yesterday.
It'll have the zip up effect. Refer to my prior BCH blog on this:
https://steemit.com/bitcoin/@haejin/bitcoin-cash-bch-another-lesson-on-why-laddering-your-buys-sells-is-very-important
I agree 100% with this! Sounds like a case of mass psychology!!
you have gone bullish in several Alts. Is this the switch in phases you talked about where Alts will catch up with btc?
I was wondering the same thing. I am seeing bullish wicks everywhere. Cup and handles galore.
I think everyone needs to remember that Bitcoin is King. It moves first, then others follow. This is the sloshing effect. People put into Bitcoin and reap the profits. Then they pull out and go back into alts. That's the pop we are all waiting on.
I moved some positions yesterday to enjoy the BTC pump. Just be ready to catch the alt explosion!!! Not sure when this is going to happen though. I have noticed with each hardfork, people start holding BTC earlier and earlier.
Well said.
Yes
btc seems to be moving strong, could it be that it wont in fact hit the $6400 range and begin its rally now?
The a,b,c,d,e is in progress. Wave d just finishe, so one more smaller dip to wave e
see mid day BTC update
Interesting to read your analysis, very informative.
Could you say a few words about zencash and vertcoin please?
Could you update VTC as well? Thanks!
Thanks , Could you do a analysis about Civic
I added a bit today..I am glad I did....
I might have to add more depending upon how long this move takes to start up....
Give us another week at these levels would great.
You shall have all the wealth you need!!
I wish you MASSIVE profits!!