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Epic Pennant on BTC Chart


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Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

@Eric123 My perspective is a bit different;  in my opinion the alt season begins once BTC momentum tapers off and the price becomes stuck.  While this may take place after BTC hits some ridiculous ATH

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@Molten 's catch of the bullish weekly MACD crossover led me to looking at the longer term MACD.  Check out the Monthly.  We are just below breaking bullish. Last time this happened Before this Past June  was December 2015 when the price of Bitcoin was $408.  Looking Good.  

1 22 2020 a.png

 

1 22 2020b.png

Edited by Eric123
added the June 2019 cross
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13 hours ago, MaxMad said:

@Molten Ill-advised to be shorting BTC for the short term?

Very short term who knows how it's going to bounce around, but mid to long term, it appears the arrow is pointing up.  Me, I'm going long here and incrementally loading up on BTC, albeit with a horizon measured in years, not days or weeks.

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There is currently not much new money coming into the market.

This recent run in my observation was just a short dance that was triggered by BTC SV manipulation. 


A mob of people ( obviously) did not just get together a couple weeks ago and decide they were bullish and wanted to inject $500 million into the market via tether.

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No fancy chart skills needed to see that this is an important support to hold for BTC.  

yoDl2s11

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