Alt/btc bears trapped?
Updated
Looking at this fractal where we dont fall deeper here on btc, but instead bounce and then completely chop everybody up with first a fakeout ath, then a slowgrind.
Last time this happend alts/btc had some room to shine, and eventually btc and alts broke out together and we got some glorious moves.
Seeing many people call for 13k btc, but the demand on the spot market is intense.
Offourse as with anything i post this is for future reference. Not a trading plan, just for my own amusement.
In the end you trade what you see, but these fractals can help paint a picture of market sentiment.
Last time this happend alts/btc had some room to shine, and eventually btc and alts broke out together and we got some glorious moves.
Seeing many people call for 13k btc, but the demand on the spot market is intense.
Offourse as with anything i post this is for future reference. Not a trading plan, just for my own amusement.
In the end you trade what you see, but these fractals can help paint a picture of market sentiment.
Note
Obviously we wont get the exact same PA as before, but for me its more about the psychology behind such a consolidation. Its "designed" to chop people up without even dropping. Its more the timing and unexpectedness of the move that im trying to capture here.Note
well, btc just mooned instead
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