Altcoins - Double Bottom Reversal? - 2016 and 2020 Comparison
The 2016-2017 bull market was preceded by three things, one was a pattern of price consolidation and 'priming.'
The next was a breach of clear overhead resistance.
2015-2016 breach of overhead resistance
Finally was the presence of a clear bottoming, or reversal pattern, in this case a .
What is interesting is the clear symmetry on all of these factors, that we are witnessing in the altcoin market at press time.
The only thing yet to present is the breach of clear overhead resistance
2020 overhead resistance
I have been writing about the consolidation and price compression in the altcoin markets for quite some time, a breach of the overhead resistance and a breach of the 'priming' pattern, would be an excellent development, one that i am ready for and i hope that other traders and investors alike are also ready for.
There are no excuses for getting caught off guard if the altcoin markets rally.