After the savage bull on btc, all tier1 alts are hugging strong support levels, both in -USD and -BTC pairs, with multiple failed attemps to break on the dailies. The prices are at psychological levels, ~ 300$/0.05btc for eth, 50$/0.01 for btc, and lots of new blood who want to play crypto. this makes a good environment for an alt bull run.
Also since last day...
the long term of btc can only be one, the blockchain tech is here to stay. the question is, will it linger for much more, or decide to jump even before the end of july deadline?
i'm not wating to get onboard ;)
With the recent btc correction, eth did not even follow (that much). now, it's at ath again, even if btc is still recovering from last correction. the 250$ target was reached, is holding nicelly, and now bull are screaming $300.
the show must go on :)
it will pop, it's just a matter of time. but this time is different. no china fake vols to crash price hard, and no really bad news, after the chinese eschanges closed, and the BU circus. so, it will be a technical dump, followed by a flag for consolidation.
keep the finger on BTFD mode!! :D
So, bullish for now, bearish for later, bullish at the end. If i had any sense, i would grab popcorn, and sit by the sidelines watching this show play out.
As a good degenerate gambler, ahem, trader, i'll try do participate in the play, however in a minor role. small bull for now, until the 4h chart shows a new channel
Looking for bottom truth in the recent volumes drop on btc, i made a volume compare tool. The reasoning is that if volume on btccny really disappeared due to the forbidden margin trading, there should be a big difference in the ratio since a few days ago.
Blue and green lines are a ratio against the same base volume. the red line is a 5 day average of the 2...