/biz/ - Business & Finance

12H chart.

Onto the bullish possibilities. The bullish H&S pattern that I've mentioned numerous time that's also visible on $BTC is even clearer on the market cap. This formation can break us out of this falling wedge with enough momentum. I would increase my positions on my crypto portfolio if 143bil$ is broken through. This does not mean I will be long-term holding coins. For a brief period of time I'd be bullish on crypto, relatively a lot more bullish than I've ever been since the past year.

It would be too early to say if this would be the beginning of bull market or alt season. This is upto how the market reacts to the breakthrough of falling wedge. But atleast for a while I'd be able to say (unless proven otherwise) that the market will have an uptrend or go sideways, which is much better than bleeding for an entire year.

One thing that scares me though is a lot of people are already aware of this H&S formation which makes me think that something fishy might be going on. It would be surprising to see the bear market end with such an obvious pattern.