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RE: When alt season?
Indeed. I think there we will see another parabolic move at some point with Bitcoin. I still believe we'll end up a bit lower first before we see that.
Indeed. I think there we will see another parabolic move at some point with Bitcoin. I still believe we'll end up a bit lower first before we see that.
I would argue that we are still in a parabolic run. Have a look at the second last chart in this pic (the long term chart trend line) of mine from two days ago. https://steemit.com/bitcoin/@bitbrain/crypto-markets-march-2018-up-or-down
Just had a quick look and agree with you. The fact that you've traded stocks for a significant period of time and don't write like a crypto moonboy means I have given you a follow. ;-)
I think we will test the support/demand level at around $5500 which as you said was established on 12 November. From there, a trend reversal is entirely possible
Well, it's already been tested. Sort of. I wrote that post based on BTC charts because I lacked the tools to do it with total market cap. While BTC didn't hit the same low low, total market cap DID. In my shorter follow up post yesterday i wrote about BTC no longer being the dominant factor, we should rather be looking at total market cap. Give it a quick read if you have the time.
(No that's not me just trying to shill my post :) )
Ah, interesting points. I'll 100% check them out tomorrow
And I followed you in turn, not to reciprocate, but because I have a keen sense of humour and I just read your description! :laughing: