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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (25514)	5/15/2021 11:00:26 AM
From: GemSeeker	Read Replies (1) \| Respond to of 96632

"but more people are realizing BTC doesn't do anything." Since BTC has never been anything more than a store of value I'm not sure that the failure to do anything is really a big market consideration. I think the recent pause in BTC growth has more to do with the media coverage of so many interesting alternative crypto projects. ETH, ADA, DOT, LINK, DOGE and dozens of other high-profile alt coins are diverting funds that would have previously gone into BTC.

To: ItsAllCyclical who wrote (25514)	5/15/2021 3:51:33 PM
From: ajtj99	Read Replies (1) \| Respond to of 96632

IAC, I agree with your read on BTC. Support is coming in around 45,500 right now with the daily full stochs in an area that has pivoted price off a low. Below that is $42,000. I think it is in a multi-month consolidation that still may have one or more months to go before resolving up, similar to the 2019-2020 consolidation. I think the 38,000 to 42,000 level will hold during this period based upon the prior action of price. It's bullish that the weekly indicators are re-setting into mid-range during this sideways churn, but they may have more to go. Daily BTC: