Just a cryptocurrency update for today since the total market cap broke out of its bull flag after my post yesterday. This video includes the total market caps (with and without BTC), Ethereum, Bitcoin, and a bonus AMZN chart. This is not financial advice. This is just what I'm seeing, and why I think the market continues to move up, despite incessant calls for a big retrace.
For reference, here are all the charts where I gave arguments for the bottom being in, beginning from my Long setup in January. This is so you can see my thought process as I tried to navigate what has been going on in this crazy market.
Long setup from mid-January, when Bitcoin was still around $3500:
Speculation about the bottom being in (end of Feb):
Call for a move up towards 6K in early march:
Where I used the ultimate oscillator to speculate that the bottom was already behind us, and that we could be due for considerable upside.
Nailing the breakout above the final bear market resistance (though the Bitfinex situation has changed things - won't be using this chart for now):
-Victor Cobra
For reference, here are all the charts where I gave arguments for the bottom being in, beginning from my Long setup in January. This is so you can see my thought process as I tried to navigate what has been going on in this crazy market.
Long setup from mid-January, when Bitcoin was still around $3500:
Speculation about the bottom being in (end of Feb):
Call for a move up towards 6K in early march:
Where I used the ultimate oscillator to speculate that the bottom was already behind us, and that we could be due for considerable upside.
Nailing the breakout above the final bear market resistance (though the Bitfinex situation has changed things - won't be using this chart for now):
-Victor Cobra
Comment:
Bitcoin update. Market is looking worrying to me right now. Hopefully I can be proven wrong:
