BTC - Look who just woke up...
Somebody is starting to get their Mojo back...
And I am not talking about Austin Powers.
Go and take the dogs for a quick run and come back to this:
(Source: https://twitter.com/TylerSCrypto/status/1216892398661402624)
That is always a welcome development!
Shorts getting squeezed.
If we can break that recent $8,400 resistance area, we are really off to the races.
Now we just need steem to get dragged along for the ride!
It's crickets right now though, still sitting at $.13 with not much movement at all.
This looks a lot like the "disbelief stage" of a market cycle to me...
After a long period of crap, prices finally see a nice surge, breaking most of those down trend lines.
Most don't believe it will actually hold the gains, so they don't participate.
Instead, they watch form the sidelines and fully expect prices to fall back down towards the lows.
It looks like this:
(Source: https://wisecryptos.com/crypto-blogs/wall-street-cheat-sheet-psychology-of-a-market-cycle/)
If that is the case, we are likely at the very beginning stages of the next major bull market.
A bull market that will likely last another 18 to 24 months and take prices much much higher than where they are currently.
If that is the case, the next 2 years should be very fun for the bulls!
Stay informed my friends.
-Doc
I was looking for a break to test 8400 again today or tomorrow and thought it might come this afternoon. This evening is good too.
Have you noticed how LTC is twice the percentage up about when BTC goes up?
Yes, I had noticed LTC showing good relative strength lately. That it good news for altcoins and may mean we have an altseason incoming...
I have noticed that whatever BTC is up percentage wise, LTC is up twice as much. And it happened again this morning...BTC up 7, LTC up 14. Don't know exactly what it means, but since I hold LTC it makes me smile.
Thanks for information. I follow you
You got it.
If history repeats Bitcoin should be spiking up for the next three months as the market over-corrects attempting to price in the halving event. After that the price will crash a month before (and during) the halving and it will once again be claimed an utter failure.
The interesting thing I think about all this is that people are claiming these gains are caused by global uncertainty... almost no one is talking about the halving event anymore. Very strange.
Tom Lee says that markets typically discount events 1-3 months out. We aren't yet in that window regarding the halving, so I am not that surprised. It's all about what have you done for me lately.
I do agree with you price action thoughts though, that is exactly what happened the previous two times. You want to buy the post halving dip. The run that starts a few months after that is THE BIG ONE.
And they couldn't have woken up soon enough!
It's been a while since I've seen solid momentum like this, with seemingly real movement this time, and there's plenty of green across the board. Other than the large-cap coins, the standouts for me are BSV (+220% 7D change), and DASH (+50% 24H change) :O
Yep, too bad steem isn't moving like that... Oh well, perhaps later in the cycle.
Fingers crossed... Steem will follow along :-)
Its Alive!!!
!giphy alive
giphy is supported by witness untersatz!
Nice articles so far. I am following you.. Hope we can have some conversations..
It all seems to have been sparked by the world war 3 memes.