? #BTCupdate #MarketUpdate ?
We are waiting for the market to come alive again and the Altcoins market bull run to finally materialize. This hasn’t happened, we look to be “late” compared to earlier years. We are not really “late”. The cryptocurrency market is a new market, completely new and different, and its cycles can definitely change and vary compared to other markets as well as compared to its past history.
The charts are developing nicely for the long term of cryptocurrencies and strong bullish action will be with us soon.
Bitcoin is in the negative, correcting more and more, this will need time to develop and reverse into a strong positive trend.
We are going to be waiting patiently until the market decides to move on. Bitcoin has been going sideways for a few days now, and yesterday, it went down hard. There is consolidation going on and bullish divergence can be spotted on the MACD. As these early signals grow, we can expect the reversal to happen.
If Bitcoin goes sideways this week, the Altcoins market can still move positive. But we are not banking on that; we will wait for the action to resume. Right now the market is really slow and dead. The best choice is to wait until uncertainty is over and the coins start to move.