If BTCUSD fails to break downtrend, I could see this as a bull trap forming into something like a H&S, but remains to be seen. Nonetheless, overall descending triangle forming at the macro level, it it doesn't go down from here, it will eventually.
Bitcoin's never broken its previous ATH before a halvening. I was curious if this time would be different, but as we continue failing to break $14k, I realize it's becoming more likely that we will move sideways the remainder of the year. If this is true, we may get an altseason through December. So many variables, who knows what will happen.
sit down around the fire and let me tell you a story that many of you may not have heard. once upon a time, there was a group of people who wanted to launch a cryptocurrency called Zcash with a fucked up trusted setup, 2 MB block size, founders reward, unverifiable supply, and experimental technology using people's real, hard earned money. what could go wrong? ...
Bittrex chart shown for longer history
Next upgrade by October will include:
- Restricted Assets
-Possible algo change to keep network ASIC-free
And Binance US just came out with their coin listings, includes RVN:
Last bull run we found out that the Koreans know how to bitcoin. Check the KRW chart when there are discrepancies between various USD exchange charts. For example, it's hard to tell from this last move up if we broke out of the downtrend or not. Bitstamp says maybe no, Binance says yes. KRW settles the matter.
Comparing the markets to Q4 2015, BTC/USD broke out, ending the bear market, confirming multi-year bull market. But with The Halvening several months out, BTC historically seems hesitant to continue moving up, thus in consolidation mode. Where does that new money go to? Looking back, the best time to start buying altcoins was during this period, more...
Chart looks ugly at first glance! This is what the Illuminati want you to think :P
Looking at it more closely, I see several potentially bullish indicators:
1. The $14k peak marked the end of a three wave drive. The first two waves had bullish consolidation that lasted about 27 days, followed by 10 days to break to the upside. We're approaching day 27...
I've always called this an "ogre" pattern, mainly because I'm sure there is a proper name for it but I don't know what it is. It's like a H&S except both the shoulders break past the head, and the final shoulder fails to break past the first shoulder. It's a really shitty pattern for bulls, and it almost always breaks down. Still looking for 300 sats on RVN!