The crypto market has been pretty bullish lately, and looking at charts it is easy to see why.
In simple terms, the part of the grand cycle where the selling was happening ended, then the price action started going sideways, then people accumulated low, and then as the price rose from that accumulation (more buying than selling) over time it entered an uptrend, and when that uptrend brought the price action to key resistance levels it blew through them, and then you got a quick spike, a mark up phase. From here we will either go back down or grow organically upward in waves.
If you look at the chart above you can see that story play out, also if you think of that blue line (200 day EMA) as an example of a key resistance, you can see how once that was surpassed the price action took off.
Crypto doesn’t sit around waiting for you to get back in, but that said, fiat values are pretty low still, and we are arguably not even out of the bear market yet. So, good for you reader of this article, you still have ample time and maybe even another leg down to build your investment (or make your trades).
This article really is only about one thing though, the answer to why we have a mini bull market in the here and now. The answer is in simple terms, “because the price action allowed for it.” That is to say chart patterns turned bullish after going down and then sideways, and everyone sitting around waiting for a sign the bad times were over quickly piled back in… which then brings in the FOMO buyers and traders… and soon, if all goes well, inspires another wave of adoption.”
Or at least, all that, but in my opinion.
NOTE: Look at the Bitcoin and Ethereum charts. What part of the cycle are we in? Have you missed out? Is crypto dead and this is a bull trap? I mean, we all have to make up our own minds… but if it is that Bitcoin will do what LTC/BTC and so many other alts have or are doing, then good news, you still have time. 🚀