Plot twist: BTC is up 4% in one of the most staggering bullish moves ever.

Plot twist: BTC is up 4% in one of the most staggering bullish moves ever.

By MadMaxx | Psycho Crypto | 5 Feb 2020


What the actual hell is going on in crypto today?

The market more or less defied all odds to close at $9600, all the way from $9200 earlier today.

I am so confused as to what to do. Most technical analysts out there gave results that coincided with mine: Bitcoin would consolidate for at least the end of today, before rallying to 9500.

Apparently we were all wrong at the same time, as Bitcoin is currently $9620 on Binance as at the time of writing this post.

Bitcoin cash isn't left out either, breaking its own resistance and making a new high for the year.

BAT on the other hand, seems to have found peace at a new resistance point, because it has plummeted from it's 0.25 mark to make a new home at 0.247, completely missing the 0.26 mark. 

It seemed like BAT would never stop its parabolic move up, appreciating over 12% in the past few days.

Other cryptocurrencies though are effortlessly passing over 100% on the daily. 

WRX is up over 200%, which is just obscene, and ETHBEAR is up 25%.

Seriously, I don't know what to make of all this. It goes on to show that classical technical analysis doesn't really work well when Crypto wants to be crypto. 

This is a classic example.

It's safe to say that I have been able to profit only from the BCH move. I liquidated my BTC positions at 9400, a move I seriously regret right now.

Anyways, let's see what tomorrow brings.

Thanks for reading.

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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