Bitcoin broke out yesterday and the alts suffered again because majority of the traders are taking profits and cashing out their BTC into fiat, this was painful for the ones who are day trading their alts yesterday, but is it also good? will this be a delayed gratification? as you can see in a 4hr time frame LTC/USD BTC/USD ETH/USD BCH/USD which are the Bluechips have almost the same pattern a Bullish Pennant, and from my last post I mentioned what Bullish Pennant Pattern is capable of and in the comments I showed its result, and as you can see in the mini chart of coinmarketcap.com that they almost have the same pattern, and last year almost the same quarter the bull run started. Let us all see if we are really in a bullish market now and if we will experience again a bull run. We are all hoping for this bull run.
ETH/USD BTC/USD
LTC/USD BCH/USD
CMC mini chart
But if you're a day trader you're pretty happy because you made profits from yesterday and still profiting by now as it approaches the $8000 again and hoping to breakout until the Fibonacci Golden Ratio the 61.8% level which is $8200 area, but even if we are seeing an uptrend on the 15m chart of BTC, I see a Bear Flag Pattern forming and in a Bear Flag the price may breakdown, But lets hope that the Bear does not materialize
this is a post for the #steemitpowerupph community and the crypto community, I am a proud new member of the #steemitpowerupph :)
