All About Timing - Short-term Neutral, long-term Bullish
Looking at BTCUSD, we see a long-term descneding wedge pattern accompanied by a near-death 'Death Cross' whereby the 50-day MA approaches the 200-day MA. I think in the short-term we will see limited Vol edging toward early April where the completion of the current descending wedge will finish. This will then be followed by a Bullish breakout and a subsequent return to the long-term 'Organic Growth Line.'
Having said that, the pending demise of U.S. Equitites could be a catalyst. Given that Blue Chips are grossly overbought, as the Equity market turns to Bears we could see investors turn to Crypto as a safe-haven, similar to Gold in the past. If this happens we'll see a cash injection into the Crypto space propelling not just BTC to familiar highs, but Large Cap alt-coins as well.
Having said that, the pending demise of U.S. Equitites could be a catalyst. Given that Blue Chips are grossly overbought, as the Equity market turns to Bears we could see investors turn to Crypto as a safe-haven, similar to Gold in the past. If this happens we'll see a cash injection into the Crypto space propelling not just BTC to familiar highs, but Large Cap alt-coins as well.
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