Crypto-Crapshoots

BLX bear pennant turning into ascending pennant.

Long
BNC:BLX   Bitcoin Liquid Index
Surging Bitcoin Volume Could Trigger ‘Raging Bull Market’. Volume doubled for btc in the last 2 weeks. Either this volume isn't representative of reality or could be wash trading being calculated in here, or we're getting geared up to bust out into a raging bull market. Nasdaq is on its way for tokenization. Monthly, weekly, nearly every daily indicators are all looking bullish, and in comparison to 2014/15 market time frame , the bottom is in. Typically Id think were in consolidation phase for the next couple months, before the bulls go raging. My November chart on BLX has made a shift on Feb 18. Geometrically speaking, there is a good probability bitcoin is shifting from a bear pennant, to a bullish ascending pennant. I spotted this last night just staring at the chart... Binance bitcoin is printing the same pattern. The blue triangle is the bear scenario, but in fact it may be playing out bullish in the orange triangle with a peak of $4200. Ascending pennant with so many bullish indicators, has me leaning towards the bear run ended mid December 2018. Consolidation phase according to the bull pennant is showing around May/June bull season begins. The size of the current pennant is a 34% move. So if the bears have it, 34% move knocks us down to 2100-2300 with a 618 fib at 2100. If bulls take over, a break to the upside at 34% gets us to 5500-5800.

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