Is Bitcoin About to Break Out? - Weekly Crypto Diary #15
We've seen a lot happen over the past week. BTC has jumped up from around 9k to just above 11k, and Altcoins have taken significant tumbles. Is this the point we see BTC make another big run?
WEEK 15
Total Portfolio Profit: 107%
Weekly Portfolio Profit: -4%
The weekly bleeding has subsided a bit. It's still early to call where exactly this market is going though. BTC has jumped out of a wedge pattern and saw some positive price action, but that came back today.
TOP PERFORMERS
Bitcoin: The King of crypto is taking it's place well on top of the throne at the moment. Dominance levels have risen above 40% and it seems that we might be seeing the next bull run in Bitcoin. This could be a complete fake-out, again I don't know anything for certain. It seems with the discourse surrounding crypto at the moment that there is a lot of thought that this Bitcoin consolidation is nearing its end, and those big players that gobbled up cheap BTC in the past couple months are reading to push the accelerator.
I have moved to bolster my BTC stake in the hope that much of what is being said will come true. I'm still very hesitant about the market as a whole and don't feel 100% about anything right now.
CONCLUSION
We're seeing positive signs in crypto right now, but I of all people can't confirm or tell you that we're out of the hole yet. I expect that when we do come out of the hole, it will be explosive.
Disclaimer: None of this is financial advice, please do your own due diligence before you invest in cryptocurrencies.
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