Bitcoin is starting to form a similar structure as the bottoming structure of 2015. No double bottom, no spring, no true recognizable bottoming pattern yet, but the market is possibly stabilizing Bitcoin in this area after a V reversal. The 1week log chart shows some possible similar ranging between the 2 main Smmas:
This is very encouraging for now, unless of course some drama happens and Bitcoin falls below the 3.000$ support zone, but this scenario is now becoming less likely in my opinion.
Locally, the 50 Smma is forming a very strong resistance, and a false breakout of this 50 Smma with a pullback to the 3500$ region is not to be excluded.
Ethereum is above the 50 Smma, last seen around 1 year ago for a fakeout
Same goes for Litecoin
Xrp from Ripple isn't there yet, but it could be bottoming as well
Komentarz
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If the 2015 fractal is reproduced here, there should be a false breakout of the 50smma (blue)around this area. Going from 2000 views to 200 is actually very encouraging as a market bottoming symptom, this is tasty, 10x less people are interested with this market
Komentarz
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Aaaand... voila about the false breakout of the 50 smma
Komentarz
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One of the most insane dump and run i ever saw Beautiful
Komentarz
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The problem with market bottoms is that you will never buy enough in the right area.