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Wednesday, October 7, 2020

TOTAL2 shows crypto has started the multi years bull run

TOTAL2 shows crypto has started the multi years bull run

Price has broken out of a 3 years triangle and has touched the top of the monthly Bollinger band for the first time since January 2018.
A very similar pattern occurred at the start of 2016 two years bullrun.

It is very hard to believe that this breakout is fake and price will "nuke" back under the triangle, since touching the upper BB band on the monthly is not a trivial event and never resulted in price "nuking" down , not even testing the BB midband,

Monthly MACD positive and similar to the start of 2016 bullrun. This is a clear indicator that price is in a bullish trend and to revert to a bearish trend requires a lot time and effort on the part of market makers.

This also dispels the myth of BTC pumping will cause Alts to suffer. The BTC up Alts down, BTC down, Alts down narrative, is true in the correction period between the major bull run. In this run, BTC and Alts will both pump and Alts more than BTC , to such an extent that an Alt will replace BTC in dominance (see idea below).

from Trading Ideas
via gqrds

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