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IS THIS BULL FLAG NUMBER 2 FOR BITCOIN?
It’s Monday night, Memorial Day, and if my eyes aren’t fooling me, I’m pretty sure that I am staring at a smaller, flatter bull flag formation. If this is what I think it is, we’re probably going to see a break to $9,000. What intrigues me the most is the fact that this bull run has not taken a breath since we were at the initial run to $5,000.
Just as it did in the previous bull flag formation, the baseline is holding nicely. As long as BTC does not fall below that base, my best guess is that we see another spike. They are coming hard and fast, and I would NEVER have thought this was even possible before it happened.
Bitcoin has made a fool out of me since it broke out of the doldrums and surpassed $5,000. Each and every time it surged, I expected a pullback. But the correction never came. Here again, it’s old news. BTC has broken new ground.
I think I need to write a disclaimer because I am tired of saying “this isn’t financial advice”. Heck… I don’t even know what regulatory agency is snooping on my blog site waiting for me to say the wrong thing, or not say the magical phrase. Oh well. Onward we go!
Post your predictions in the comments. Also, I’d like to know if you believe we are in an absolute bull market right now, or if you believe this is just a bull run within the bear market. Let the debate start!
The REAL CryptoPro
IOST RIDING TRIANGULAR MOVEMENT FOR SEVERAL DAYS
As we approach June 1st, my eyes are on this current trend. I’ve been watching this movement for the entire month, and it’s only getting better. Will it continue through the month of June, or will IOST take a summer break?
Looking at this chart, we had a bit of a correction phase that ended on May the 23rd. Since then, the general baseline has been on the incline. If the 5-day EMA were shown on this simple chart, you would see the price action bouncing off of that line.
It’s hard to believe that the all-time high for 2019 is only 0.014, as we rapidly approach that level during this bull run. If the run continues, I look for 0.014 to be surpassed before the 1st of June. All bets are off after that point, because summertime has not been nice to the altcoin market in the past. But we shall see.
Do your due diligence, and as usual, this isn’t financial advice. Use your head. Don’t play with money you cannot afford to lose. Let me know what YOU think IOST will do in the next few days, if you have some technical analysis to share.
Now let’s have some fun and watch this thing play out in the next few days!