Weekly MACD looking strong, volume (especially as compared to the second half of 2018) is looking strong:
Monthly Stoch RSI crossing up, many believe this is a dead cat bounce to 5k...but if Stoch gets out of hell this rally may have legs, and go higher than everyone is anticipating:
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Sentiment: Every drop in 2018 was surely the bottom, and ATH's were imminent. Then we broke 6k, very few have dared to call the bottom, and a rally to 9k is seen by the vast majority as ridiculous at worst, and wishful thinking at best.
Most bears believe we are going to $1300, or three digits. Everyone and their mother in the bull camp believes we will be repeating the 2014 fractal. Anything is possible but i'm not sure I try to look at unexpected scenarios, further in 2015 supply side was effected by 30,000 or so bitcoin silk road auctions. We still have lots of uncertainty around the Mt Gox Trustee situation, but a lot of that stuff is still up in the air.
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Sorry was typing quick, correction: "Anything is possible but i'm not sure *it will play out like that this time around.*"
"I try to look at unexpected scenarios, further in 2015 supply side was effected by 30,000 or so bitcoin silk road auctions *every few months.*"
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Apparently facebook has yet another "crypto" project...and hilariously the MSM has been implying that was the "reason" why bitcoin rallied in their search for a post-facto narrative. If you believe this utter nonsense you must be new to these markets : ) 99% of the time there are no reasons...just fear, greed, hype, and market cycles which all eventually end up going (in the long term) up and to the right. Bitcoin is money it's that simple. Better questions are: -How much energy is put into maintaining the illusion that bitcoin/cryptocurrency has not already won and why? -Why must there always be a post-facto narrative? -Will we ever see another bear market like those of 2014, 2018 again? etc. Anyway, my latest larp chart can be found here: enjoy the weekend fam