Another try to call the wave 1 top

youp (51)in #bitcoin • 5 years ago

A quick update. I was too early in calling the top and that's not the first time. Maybe now we're there as at least we've seen a good move down today. But, this is bitcoin and you cannot be certain about anything.

The weekly and daily stochastics are entering overbought terrain and the MACD's added a second, even lower divergence.

Long term it's all looking swell of course. My trend indicator has turned green on the weekly. This usually predicts a longer term uptrend.

The total crypto market is also doing well, the Coinmarketcap 200 index, the one excluding bitcoin is doing even better.
In other words: the altcoins are back.

To be fair, not all altcoins are making impressive gains. The great altcoin shakeout is still going on, but some coins still have quite a bit of support. Below some of the bigger ones I've noticed.

Ethereum