The strong volume we had on Friday has peaked my interest. And a massive drop on Monday would not surprise me. Either somebody is selling the top, or I am unaware of some logical reason for this surge of volume. It's never possible to try to call the absolute top without making constant predictions, but I would like to try. Monday will mark the end of the bull market.
The ETH/BTC Ratio has just broken through a 3 year trend and broken down from the Weekly 100MA. This was a major decision point. This will have a negative effect on all altcoins most likely.
Could this mean a bull run for Bitcoin as people transfer their wealth into a more stable coin? If Bitcoin stays above 6000 that may be the case. On the other hand, if...
The Monthly RSI over the last few months went higher than 97 and 08! The yeild curve inversion. The Turkish Lira collapse along other fiat currencies. Unemployment is low. Very soon we will see a sharp market downturn. In the chaos I believe we will see that the bank bailouts from 09 will have only postponed the issues. This may be the biggest financial disaster...
After having a quick breakout and violent fall, it looks like we may be having a lower high and keeping in line with our larger bear trendline.
We may be heading back to the 270 area.
I am a new trader. Take what i say with a grain of salt and please give me feedback so i can get better :)