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BecomeRich

Are we back?

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It feels like fishing to me.   There have been a few ~5% all-at-once increases, and then nothing happens and the market gradually drifts back down over several days.  Then it gets bumped again and gradually drifts back down.  It's exactly like tugging the line a little when you're out fishing and nothing's biting.  It may be the start of something, but I don't think so.

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Edited by Guest

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if bitcoin can move and stay above 7k i think we’re talking a set up for a return but im gonna wait for confirmation before calling a breakout/a return to bull market

Edited by trubbleinmind

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2 hours ago, BecomeRich said:

XRP and other coins are looking great. Are we looking at a bull run ? Any TA to support a higher price ?

I wouldn't call it a bull run, but this uptick still has some legs left in it IMO.  There is decent buying support building behind BTC at current prices (instead of empty beacheads that we have been witnessing over the past couple of weeks), and various coins are still gaining.  Based on this alone, I would anticipate another leg up for BTC with alts following along.  Once that next phase settles (i.e. alts stop gaining) then I would reevaluate because pullback may be around the corner.

Random observation - both of the last two spikes started by BCH rallying;  let's see if the same thing holds true for the anticipated third leg up.

Also, ETH seems well positioned to see some gains in the near term (next 24 hours) with the sellers being thinned out.

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3 hours ago, BecomeRich said:

XRP and other coins are looking great. Are we looking at a bull run ? Any TA to support a higher price ?

I still say the current price action mirrors the first week of april after the march 30th BTC future expiration. we were flat for 10-13 days then rallied to $.95 before spending a month and a half shrinking down to the next btc futures expiration (june 29th) after which, we started taking our flat line back upwards. 

Seems to me like the 'true' resistance is that $.95-1.00 region. if SBI can bring an influx of new buyers in July to correspond with futures recovery, perhaps this time we can blow through $1 and work on upwards trends vs the downwards manipulation we've been watching.

BTC futures are bought up for the low prices sub $6k and BTC is shorted like a nathaniel popper until the price is hit. then BTC shorts cover and the markets recover. Bots and alt coins go back to work as increasing BTC monies flow back into alts until we hit that resistance point, then the futures players come back in full force and spend 6 weeks driving it down.

I think the real question lies in what happens over the next 2-3 weeks to give us an idea of what to expect at the next quarterly futures expiration. last friday of September. 

If bulls can take reign, then investors might buy into higher valuation futures. but if bears remain, my guess is they'll invest heavily in the lower value futures and short the hell out of btc to make it come true again. 

rollercoaster until rockets. 

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3 hours ago, BecomeRich said:

XRP and other coins are looking great. Are we looking at a bull run ? Any TA to support a higher price ?

No. Don't base a run off of one green candle. Look at the chart. We had a green candle in april and moved from .49 to .91, only to drop back down to .43 a month later.

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27 minutes ago, XRPcalling said:

No. Don't base a run off of one green candle. Look at the chart. We had a green candle in april and moved from .49 to .91, only to drop back down to .43 a month later.

we need some of those $.10+ gain days again. they pop up occasionally but we're so used to sideways trading and dips that +$.02 feels big now.  

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If BTC gets and stays $6800 for a while this could be the bottom. If it doesn't break 6800, expect another leg down. No one knows what will happen but my vote is for leg down due to volume.

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