These last days have been really exciting in terms of Crypto Market Positiveness.
The number of good news are increasing and we are seeing really a high quantity of posts claiming for the end of the Market correction.
Personally, I have the feeling that we are already entering in the accumulation phase of the new Bull cycle, especially these days that we have seen the total Market Cap back to values close to those of 1.5 months ago... but I cannot "formally" declared it till seeing certains conditions been accomplished.
Taking the Daily-Chart BITCOIN as a reference, the conditions I would personally expect in order to fully confirm the reversal trend are the following:
- A clear increase of the Trading Volume: Currently we had a light increase but not sufficient
- A series of Higher Lows: Accomplished
- BITCOIN to cross the 200DMA: On its way but not accomplished yet
- A series of 2 Higher Highs compared with the two consecutives Lower Highs: On its way but not accomplished yet
- "Volume Flow Indicator" (VFI) in positive range: Accomplished
As you can see in the chart, just 2 out of 5 conditions are really Bullish, the other three still are at the "Dangerous area" but with a, let's say, "willing to improve" status.
The most important, in my opinion, would be a clear change on the Trading Volume, which seems that today is slightly increasing if we compare the values of the last week.
Another good signal is that BITCOIN is growing and at the same time also the ALTCOINS, so, seems to me as a more sustainable grow in general.
Also I have the suspicious that we may see a clear trend after BITCOIN CASH Hardfork, planned for November 15th...
Will see.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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by toofasteddie
