Ok..so the theory is that there is a repeating pattern the past 4 months. We've had a feb 6th low, then a march 6th high, april 6th low, may 6th high..and if the pattern continues, we will have a june 6th LOW.
My take on this is that we're not going to see the same pattern repeat it self once again. Either we had the low May 28th, or we are going down.
The last few days we've had a pretty bad bull run. I say bad because there has not really been any momentum or price action. Just 1-2% gains on increasingly lower volume. Today though we are seeing more interest as selling is happening. Higher volumes on the low - more people selling.
What could prevent a fall the nest few days is of course some excellent EOS news or news that institutions is entering.
Another thing that is good for non Bitcoin-maximalists is that BTC dominance is falling. I think that is good, and I don't mind seeing BTC fall as long as other coins are doing well. Either way I think it is going to be a turbulent process for alts to break away from BTC influence. Hopefully that could happen if EOS decides to fly.
Here is the chart. What do you think? BTC ready for takeoff in a few days - staying true to the pattern the past 4 months - or are we heading lower?
My bet is that we are heading lower. However, I do hope I'm mistaken because I'm pretty tired of waiting :)
