It pays off to follow markets closely, it pays off to follow charts closely. In the case of the crypto market we have been focused for a long time on Bitcoin which we identified as the leading indicator. Moreover, the $6000 level is the most important one to watch. Both these points have been the only focus, regardless whether Ethereum or any other altcoins or blockchain stock was crashing. It is now becoming clear that Bitcoin’s $6000 has held, and its July breakout is confirmed. With that our Crypto Market Buy Alert from mid-July is also confirmed, this is why.
‘Start with the chart’ is the mantra at InvestingHaven.
Bitcoin’s chart, by far the most important to stay focused on, shows this beautiful breakout in July of 2018 which got tested in August. The most important thing to note is that a higher low was set against June 28th. The 2 arrows on the chart make the point.
Why is this so important to investors, and why does this qualify as *breaking* news? Because investors, if and when they focused on the wrong things in the crypto market, like for instance altcoins crashing 2 weeks ago (remember Ethereum falling -10% per day for a couple of consecutive days, same for Ripple and almost any other altcoin) it would have been the wrong thing to do. Consequently, an investor would panic (indeed, the forbidden word ’emotion’ kicks in here), and sell their favorite cryptocurrencies at a major bottom.
That is how it mostly goes for the vast majority of investors, that’s why the focus on the right indicators is so hugely important, that’s why focusing on the financial mainstream media is the guaranteed recipe for catastrophe.
Of course media was super bearish in August. But here is the *real* news: the rude crypto bear market ended in August, with the backtest of the breakout. It is the only news that matters.
All altcoins and all blockchain stocks will follow Bitcoin’s way higher.
Note: this is what we wrote on January 27th 2018 to our premium crypto investing subscribers in the midst of panick when the crypto market was crashing: “Around summer time the crypto market crash would end and make place for a new bullish trend.“
Now we are not pretending that it is time to fasten your seatbealt as Bitcoin will go to the moon in 2018. On the contrary, a healthy consolidation is likely the next thing. As long as a series of higher lows are set, or, at least, $6000 is expected, it is amazing news for crypto bulls, as it confirms (1) our buy alert from mid-July (2) the grand bull market is still intact.
Remember, the longer the base, the higher the space.
In other words, if you are really (really) serious about your crypto investments, you pray that the current consolidation goes on for another year or two, maybe even three, because the rally that will start after the breakout out of the consolidation will be like the one last year.
The crypto bear market has ended. It is time to accumulate cryptocurrencies and blockchain stocks, it’s one of the few chances to get in at these (low) prices. We stand strong that our top 10 favorite cryptocurrencies and blockchain stocks will be trading at many multiples in the next year(s) or so. Our premium crypto investing research members have all the details, you can have access now as well, become a member NOW >>