✴️ Why BCH Ultra Bullish Supports Altcoinseason (BTC, XRP & ...)Within 20 days Bitcoin Cash grew from a low of $90 to a peak of $328, a massive 261%.
The peak happened 30-June and from this date through 10-July, Bitcoin Cash hit a low of $231 or a 30% correction.
Now, this is ultra-bullishness.
20 days BCH grows by 260%, 18 days and the current price still trades above the 0.382 Fib. retracement level for the current bullish wave.
After such strong growth we normally see corrections and retraces move down fast to 0.618 Fib. ($179 in this case) or even lower, 0.786 Fib. ($138).
This is why Bitcoin Cash is super bullish, because its price continues super strong even after massive growth. No sellers around, people are ready to hold.
It is the same that is happening with Bitcoin and XRP.
Bitcoin continues sideways for an entire month now above $30K.
Then Ripple's XRP continues holding high with minimum retrace.
As this is happening, people not selling, deciding to hold... The rest of the Altcoins market continues to break up 2, 3 digits on and on...
This correction/bullish consolidation can extend but do not be surprised if you see another sudden price jump.
This will happen for the big Altcoins all at once, it will catch many people by surprise, it will be a good surprise and we are ready because we support the bullish side.
By the way, when the market becomes bearish that's exactly what I will say... I hope stones are not thrown at me when the time comes, instead we use the information to prepare and make the best decisions; take profits, secure profits and prepare to buy again when we hit support.
The market moves in waves, up and down, up and down... The cycles are the same but based on longer durations... My job is to alert before things happen; translating the charts.
Namaste.
