All of a sudden the from July 2018 came to mind. I remember the market was shouting both ways as well back then just like. Volumes were much higher back then, but there was simply more money in the market and the bitcoin’ price was double as well.
Alts look good at the moment as well, but we should not forget, alts jumped up in second week of Jan a month ago around the 4000/4050. They started to break up with a stable bitcoin’, i went to sleep and when i woke up the got dumped and the rest followed. was then was similar to the past days. Alts show similar pictures as well.
But this looks good as well, only thing lacking, is real aggressive big buying . The from the previous analysis is also still in play. For now i think we can se that blue channel as a good indication of what the next step will be. If it breaks down, we will probably drop like the previous , if we stay inside of it ans slowly move up again and break the 3620ish, we could see a reaction happening and see another push up.
All other things from the previous few analysis stay the same, so read that if you want to know what the bigger picture is. If your watching this live, you can catch the rally without risk almost. Because almost each time, we see buying slowly increasing 2 to 15 minutes prior to the jump up, getting more aggressive until the pop happens.
Small summary, may not break the 3450/80 anymore, otherwise the impulse factor is gone. A break of 3700 will probably mean a switch from mid-term bear to bull trend. I will make a new analysis if we see a break of this flag. Because until that happens, it’s a lot of guessing.
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Previous analysis:
Published at Wed, 13 Feb 2019 04:25:51 +0000
