i'm definitely feeling bullish at this point, since stamp and others are pushing above the daily bands, and because altcoins are close to breaking out if they haven't already---bcash went crazy already. that kind of sentiment suggests the bulls are getting antsy and are ready to start eating through the ask side.
just need to bust through the $6800 area, which kept a lid on price through september and october.
just need to bust through the $6800 area, which kept a lid on price through september and october.
Highly doubt that altcoins are breaking out. Remember the ripple pump when it did 2x? I think it's just another dead cat bounce after which the price will get pushed down even more to around 5k and then if there will be some technical signals of a possible pump I might go bullish. Now short any time of the day, we're nowhere near the 6.8k resistance and the bullishness is already slowing down.
i can definitely see the bear case. but not enough to short yet, since there's been so much downside in alts already and BTC hasn't established a new downtrend yet. the fate of altcoins hinges on whether bitcoin breaks up or down.
Stability isn't a good thing. It makes it unattractive for investors that are into bitcoin because of high volatility and day trading. Can't remember the last time bitcoin was so boring.
stability can be a good thing. there are countless examples of mid-term stability that turned out to be bullish accumulation phases. that's why wyckoff accumulation schematics are essentially sideways formations:
