The price drop since December hasn't been fun — but an epic opportunity to buy a little more coin at low low prices before the new bull run begins...
But when?
When will the good times roll again?
The weekly chart for Bitcoin Core (BTC) against USD suggests that we're still due for weeks of coiling price before a significant break out.
MACD is pointing up, but price is below the cloud and within the 1SD bollinger bands which I use to gauge momentum.
The 3-Day timeframe is a little more interesting, showing price pushing against the bottom of that big thick red cloud future.
And to the right of the chart you can see the future cloud starting to thin out, indicating an area of momentum weakness, possibly where price could break through the downtrend and begin a new uptrend.
But that's not until October.
So it looks like a summer continuing in the doldrums. If we pierce the cloud then we may see a sudden spurt of action. I'll be here to tell the story when the time comes.
On the 1-Day timeframe...
...despite price action breaking above the cloud a week ago, today's drop has pushed us back into cloud territory, which means foggy directionless uncertainty.
This coincides with the breakdown of the MACD momentum showing that the market is tired.
Still waiting. Still watching. Still not enjoying crypto life in 2018.
A quick look at BCH/BTC shows BTC still has stronger momentum indicated by price action below the cloud.
But with the future cloud thinning out, a bit of good news for Bitcoin Cash at any moment could create some positive price action that turns the cloud green, pops the price above the cloud, and begins a trend towards the flippening.
Along with August celebrations of the Bitcoin Cash fork anniversary, there's a tremendous amount of commercial activity happening within the bitcoin cash ecosystem.
Let's keep a close eye on BTC vs BCH price chart analysis in the coming weeks.