You're never gonna die
You're gonna make it if you try
They're gonna love you!
Pink Floyd - Have A Cigar 1975
Bitcoin hit its bottom in the 8000’s in February and is trying to find its path forward. Admittedly, it has been a rough path for 2018 so far, IF you look at the short term. Long Term we are in a sweet spot. You aren’t going to see prices in this range again once we really make a move.
This is true for not only BTC , but ETH LTC and even BCH all the top basic basket of cryptos. I am not a fan of smaller cryptos as they have usually been premined without a cap. These 4 however have some serious potential. For the record, I only hold BTC currently.
OK, so now the chart. I posted from my phone the last two days since I didn’t have access to my Mac. At the time we had a very nice pump yesterday, only to hit resistance and fall again. This would line up with our TD count (the numbers under and over the candles above) which is currently sitting at a red 7. Essentially, the further this count goes to 9, the more we will reverse in the opposite direction. We hit an 8 to the upside and reversed down. Now we are reaching for an 8 or 9 to reverse again so we can move up. That means one or two more days of flat to down before a rise. It is possible that we could go past 9 but that just means the rise will be even more certain and quite possibly more explosive.
has moved and is not so oversold as it was two days ago. did angle up and now has adjusted to flat to down, also indicating more flat to weak movement. 50 MA also has not reversed to angling up, which when it does will mean we are entering a new bull phase for sure.
50 MA and 200 MA continue to close their gap getting close to crossing. It should be noted that while this is not something we would like to see, it can also be a very strong positive indicator when coupled with the 9 count and and as it would act as a very nice richocet to higher prices.
We remain cautious at this point but can’t see why prices for the main cryptos won’t be much, much higher by December 2018. Patience is the key here.
Accumulate and HODL.
Pink Floyd Video for your pleasure below.