Cryptocurrencies market seems to have totally bottomed
Alts of course follow Bitcoin moves.
Alts already started to correct less than Bitcoin, which is encouraging and reinforces the possibility of a total market bottom.
Of course Bitcoin is correcting after such a recent parabolic move, it probably gonna correct more, maybe to the 6500$ area, and even a bit lower to the 5400$ area.
Alts have very probably formed a specific market bottom reversal, with this very particular adam & eve bottom followed by a bump and run.
This particular type of total bottom is very present when new tech assets are bottoming after their first bubble.
We can clearly see almost a sort of leg and foot slowing down the fall in the bottoming process of new tech bottoms :
Even Xrp seems to have found a very similar floor as during its first bottoming process
It looks like everything has bottomed, but now is the time for bears to act, they probably gonna enjoy the coming weeks a lot after their 2 months hibernating.
Stay safe, this market is risky violent and merciless.
It is not because it looks like it has bottomed that it did with a certainty.
It is likely, but nothing is certain especially with speculative markets.
I am expecting a lot of sideways movement after Bitcoin finishes to correct, maybe 4-6 months of sideways.
Take care.
Alts already started to correct less than Bitcoin, which is encouraging and reinforces the possibility of a total market bottom.
Of course Bitcoin is correcting after such a recent parabolic move, it probably gonna correct more, maybe to the 6500$ area, and even a bit lower to the 5400$ area.
Alts have very probably formed a specific market bottom reversal, with this very particular adam & eve bottom followed by a bump and run.
This particular type of total bottom is very present when new tech assets are bottoming after their first bubble.
We can clearly see almost a sort of leg and foot slowing down the fall in the bottoming process of new tech bottoms :
Even Xrp seems to have found a very similar floor as during its first bottoming process
It looks like everything has bottomed, but now is the time for bears to act, they probably gonna enjoy the coming weeks a lot after their 2 months hibernating.
Stay safe, this market is risky violent and merciless.
It is not because it looks like it has bottomed that it did with a certainty.
It is likely, but nothing is certain especially with speculative markets.
I am expecting a lot of sideways movement after Bitcoin finishes to correct, maybe 4-6 months of sideways.
Take care.
Comment:
Some other typical particular primitive bottoming comparison from new tech assets with low market cap
Comment:
Another typical new tech bottoming formation with the "leg and foot" stoping the downtrend
Comment:
These two coins do not show a leg and foot bottoming formation, there are therefore very very risky
Take care of yourself