Hi dear friends, hope you are well and welcome to the update on cryptocurrency market.
Bitcoin Log Growth Curves
As on the monthly view, it can be seen that Bitcoin is spiking out of the bottom of Bitcoin Log Growth Curves, and the fact is, that Bitcoin never breaks it down.
Yes, it has spiked out of the bottom in March 2020 and right now it is once again slightly out of the bottom. As it is a monthly view, therefore, if it moves at the bottom then there can be a long sideways move.
The weekly wedge:
However, if Bitcoin breaks out the weekly wedge, then it can be a start of a big reversal from here.
Which asset will start rally 1st???
In this case, it is very important to pick the right cryptocurrency, because if Bitcoin starts a reversal move (as it is more likely), then some assets can produce extraordinary gains, but some can just hover around and it can be really a cause of frustration to hold them and wait.
In my point of view, three types of cryptocurrencies can produce rapid and extraordinary gains.
1. Who formed big harmonic bullish reversal patterns, and Stellar is one example, as it has formed big harmonic pattern on the monthly view.
2. Who has already broken out any pattern on bigger time frames, and Zilliqa is one of the examples, as it has already broken out a big wedge on weekly, and hovering above the resistance of the wedge .
3. Who is moving at the support of any pattern on bigger time frames, and in this regard, we have the best example of Digibyte, which is moving at the support of a huge falling wedge .
I am compiling the list of such assets, if I will see that there is some demand in the community to have this list then I will definitely share it here as well.
Regards,
Atif (moon333)
