CRYPTO Bull Market Continues?

The crypto space has been quite selective lately in terms of upside with the recent downside in Bitcoin. The question that many have is are we out of the woods yet? As a trader I don't like to go into things with a bias. I make money on the volatility within the market whether that be up or down. With that being said I do find some of this technology to be quite revolutionizing and have a few HODL positions. We are not out of the woods yet. Bitcoin seems to be continuing its downtrend. If you look at the chart here:

There is an obvious downtrend currently with the apex of a falling wedge soon to be approaching. However we have found support for the time being around mid 10k, where we tested these levels 3 times. The recent push off of these levels has been stronger than the last few which has been quite promising showing an overall boost within the market. The market cap has grown by roughly 1 billon dollars in the last seven days. One chart to watch is Ethereum shown here:

Based on this simple chart you can see that the current uptrend is still intact. I personally am HODLing a few from the $320 level and have been quite happy with the current returns. I am bullish on this not only based on the chart but the recent relative strength compared to the rest of the market.

As I learn more about this market and those that are involved, I have seen multiple different trends. I see Bitcoin to be more of a market indicator. I think that the easy money is gone and in order to survive you need to adapt to the ever growing intelligence of this market place. My thoughts are that we will see volatility in Bitcoin. I do like some of the recent price action in a couple names. I will be monitoring those in particular for a trading opportunity.

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