In this video I give some bullish arguments, but I also talk about why it's still important to be cautious. I'm a bit more optimistic in this video than I was in my most recent written analysis, but the message is somewhat the same. This video is for people who are more visual/auditory learners who have a hard time reading my long-winded analysis. I try to be as clear as possible with what I'm seeing here.
Hope you enjoy. I say this in the video, but I'll write it here too: This is NOT financial advice. This is my hobby––I enjoy analyzing the market. Please consult a professional financial advisor before you buy or sell.
Right now, with things very stagnant and depressing, I think it's important for those like me who have an interest in analysis to continue speaking out. Thanks again for your support!
-Victor Cobra
Hope you enjoy. I say this in the video, but I'll write it here too: This is NOT financial advice. This is my hobby––I enjoy analyzing the market. Please consult a professional financial advisor before you buy or sell.
Right now, with things very stagnant and depressing, I think it's important for those like me who have an interest in analysis to continue speaking out. Thanks again for your support!
-Victor Cobra
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Alts are still really struggling - not even able to break the recent downtrend on this move, but Bitcoin was able to smash right through. If we use a potential triangle resistance for Bitcoin, it can head towards the 11.4-11.5K zone next.
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Dominance has broken out to the upside, despite many people calling for a drop here, including myself. The next resistance is in the 74-75% area at the top of the wedge. The next horizontal resistance isn't until 77-80%
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We actually really have two wedges. Either way, there could be some upside for dominance here. I kind of doubt it will sustain much higher levels, but the market continues to favor Bitcoin by a wide margin.
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These are the other triangles to pay attention to:
