crypto charts signal END to Bear Market is near!

in #bitcoin6 years ago

Good news for crypto-lovers! The end of this 9 month long bear market appears imminent.

Bitcoin has been the strong crypto this year, now nearing 60% of the entire market! This is normal during crypto market downturns, like the big one we had in 2014. But even the Bitcoin chart looks HORRIBLE right now:

endisnear.png

The lack of any significant price recovery after the latest crash is very bearish. Hell, it's not even drifting upward through time since the crash, it's continuing to test lower levels (below 6100 yesterday).

Bitcoin is in a "must win" situation right now. In fact, it faces several must-win situations in a row, just to get back to neutral (from a technical analysis standpoint). Fundamentally, it's strong in the long term, and it won't go to zero. But I don't think the downturn is over.

The Trend is STILL Our Friend

The U-shaped correction and recovery pattern continues to play out. As I've said for many months, Bitcoin appears headed for 4XXX, and nothing on the chart says any different to me today. The setup is cocked and loaded. One tiny flinch and it's 'freefall mode' for Bitcoin.

Looking at the overall crypto chart, we see the downtrend is still very strong. The non-Bitcoin crypto market hasn't been this low since LAST Halloween. It probably won't fall TOO much lower, as it's already forming the bottom of the U. But it should fall at least further enough that it will pull Bitcoin down below the $6000 level again, giving us that final buying opportunity, before price starts to move upward in 2019.

Steem

STEEM has now hit my buy target of 75 cents. Some buyers may find a slightly better deal by waiting with their dry powder, but in my opinion (unless Steemit.com falls apart) this is a good spot to load up.

Just how I see it, not advice, etc.

Steem on!
DRutter

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Upvoted! And resteeming to my bright and sexy followers. ; D
It would be REALLY nice if Steem would recover past a dollar, and/or get back into the top 30 cryptos.

Yep you did call this! You’ve been pretty spot on with you’re analysis of these cryptos, I feel there’s an inevitable jump soon, as you mentioned probably early 2019! I wonder then if we will see a steady meteoric rise through the year, or a similar year to 2018... so hard to tell but who knows if btc will be able to shoot up to new heights or if it will have a similar 2018...

Steem sure is a good price to buy now, I’m still not buying any just yet (my theory is if I can earn it I won’t buy it) however, if it hits 0.50c I’m buying!

I wonder why we don’t earn sbd anymore for post payouts etc

Great comment, thanks. I don't know about the SBD. I actually prefer only dealing with one crypto per site... but I realize there were some gains to be had with the SBD scheme they had going. Not sure.

I think there will be some false starts (peaks up to 8k or so) as early as winter, but it'll mostly be sideways for cryptos until 2019 gets really going. Each U-shaped recovery is different but they all seem to follow that pattern. It's weird that not many people talk about it. It has played out very accurately.

buen post ,aqui mi visita saludos y feliz noche amigo @drutter.

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