Altcoin rocketship fueling up?
This chart is pretty straight forward, but I'll annotate what I see happening.
I've said this on many youtube videos, twitter post and on reddit that I'm noticing a very similar pattern from 2015 and now. Seeing how this is on a weekly time frame, this will require some patience to develop.
reddit.com/r/kucoin/comments/cqnnew/a_new_ath_for_kcs_by_2020/
twitter.com/JustinEaton2/status/1168713110561140738
2015:
Major Correction - 84% drop
Bear Trap - 56% drop
Followed by a rocket ship of a uptrend that lasted the latter 2 years of the 4 year BTC cycle. Notice that the total market cap gain from bottom to top is a 6356.51x gain
2019:
Major Correction - 90%
Bear Trap? - 46% so far (Could have a little bit more to go)
Directly 4 years since the last cycle which puts us very close to the next "rocket ship uptrend."
Lets also notice that from June 2014 to Jan 2018 looks like a big J with the bottom part of the J forming a W. Fast forward to now, we look as if we are forming the bottom of a J and the second dip of a W. If we do even just a quarter of what 2015-2018 did, we're looking at atleast a 1500x gain in total marketcap. Of course this is not going to be distributed evenly. Some will see higher gains than others, but should we follow history we're in for a very crazy ride.
What I want to see before entering another position in altcoins is for my indicators to be going up while the marketcap is either going sideways or going lower. As of right now, alts are under the wine press, but they nay not be for much longer. Only a few months if we follow the pattern. Remember, the tortoise wins the race.
Lastly, I'm not your uncle, this isn't financial advice. Everything said here is for informational purposes only. I'm only giving my opinions based off what I am seeing in the charts. Always make sure to do your own research and come up with your own conclusions before investing.
Donate:
BTC: 3NiagBLCT2EeecFDYSBwKpoC2wDuVi1B2P
LTC: LcQzho9WDH1TCH9diS9ioiTBjvRuJ9NyCR
TRX: TG676iPXWwQYiBb1TjPFSAiVypFfgHXvZ8
I've said this on many youtube videos, twitter post and on reddit that I'm noticing a very similar pattern from 2015 and now. Seeing how this is on a weekly time frame, this will require some patience to develop.
reddit.com/r/kucoin/comments/cqnnew/a_new_ath_for_kcs_by_2020/
twitter.com/JustinEaton2/status/1168713110561140738
2015:
Major Correction - 84% drop
Bear Trap - 56% drop
Followed by a rocket ship of a uptrend that lasted the latter 2 years of the 4 year BTC cycle. Notice that the total market cap gain from bottom to top is a 6356.51x gain
2019:
Major Correction - 90%
Bear Trap? - 46% so far (Could have a little bit more to go)
Directly 4 years since the last cycle which puts us very close to the next "rocket ship uptrend."
Lets also notice that from June 2014 to Jan 2018 looks like a big J with the bottom part of the J forming a W. Fast forward to now, we look as if we are forming the bottom of a J and the second dip of a W. If we do even just a quarter of what 2015-2018 did, we're looking at atleast a 1500x gain in total marketcap. Of course this is not going to be distributed evenly. Some will see higher gains than others, but should we follow history we're in for a very crazy ride.
What I want to see before entering another position in altcoins is for my indicators to be going up while the marketcap is either going sideways or going lower. As of right now, alts are under the wine press, but they nay not be for much longer. Only a few months if we follow the pattern. Remember, the tortoise wins the race.
Lastly, I'm not your uncle, this isn't financial advice. Everything said here is for informational purposes only. I'm only giving my opinions based off what I am seeing in the charts. Always make sure to do your own research and come up with your own conclusions before investing.
Donate:
BTC: 3NiagBLCT2EeecFDYSBwKpoC2wDuVi1B2P
LTC: LcQzho9WDH1TCH9diS9ioiTBjvRuJ9NyCR
TRX: TG676iPXWwQYiBb1TjPFSAiVypFfgHXvZ8
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