Possible bearish retest of the upward trendline from the 2017/2018 altseason correction. Possible time for a turnaround for alts. if we close a weekly above, retest and stabilise be prepared, for even more extreme altcoin downside relative to btc.
Depends on what the institutions decide to do. They are all telling you that bitcoin is cheap, however remember they need the retail fomo in order for them to play the market and offload some of their bags. How long this parabola can keep going up is the question, just remember what goes up must come down.
The current pattern on btcusd is insanely over extended. In my opinion, this bullmarket looking more akin to the 2012/2013 bullrun in which we had 2 parabolas, first one a 1700% pump with an 70-80% correction, before another 1250%(ish) pump from the bottom. If we do see a volatile correction happen, I will be speculating further on altcoins.
This is not financial advise, just my opinion on the matter.
Thoughts?
Depends on what the institutions decide to do. They are all telling you that bitcoin is cheap, however remember they need the retail fomo in order for them to play the market and offload some of their bags. How long this parabola can keep going up is the question, just remember what goes up must come down.
The current pattern on btcusd is insanely over extended. In my opinion, this bullmarket looking more akin to the 2012/2013 bullrun in which we had 2 parabolas, first one a 1700% pump with an 70-80% correction, before another 1250%(ish) pump from the bottom. If we do see a volatile correction happen, I will be speculating further on altcoins.
This is not financial advise, just my opinion on the matter.
Thoughts?