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Sunday, September 6, 2020

BTCUSD completing the cycle

BTCUSD completing the cycle

XBT / USD KRAKEN:XBTUSD

Started from scratch from 2018 onward, higher timeframe count which fits in the big picture I had since 2018, inc. possible bottoming in 2024 still stands and feels right.
One more leg up should do. There is some time left as well. Invalidation at 1.

Observation of what happened last days and my conclusion on it:
Pullback without any (significant) bounce on key critical pivots for btc , eth and many altcoins made it clear to me that this is/won't be a bull cycle, rather an ending of it with lower highs.
Majority alts dumped 50% in just 2-3 days wiping out a lot of progress/time right through key support on almost non existent volume relative to the upside, while btcusd still stands at this moment.
Very disappointing price action, not what you'd expect if this is a bullmarket, whilst indices went back to the top, nasdaq and gold made new highs.

As crypto nowadays move slowly, it's just wait and see.

snapshot


from Trading Ideas https://ift.tt/3h6Oj6d
via gqrds

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