A great analysis of the Crypto market ..
• The total crypto market cap recovered nicely and broke the key $250.0B resistance area.
• Bitcoin price is up more than 7% and it recently climbed above $10,400.
• Binance coin (BNB) price is also gaining momentum and it recently broke the $22.50 resistance.
• Litecoin (LTC) price is facing a few solid hurdles near the $68.00 and $70.00 levels.
• BCH price is up more than 5% and it is about to break the $300 resistance area.
• Tron (TRX) price is slowly moving towards the $0.0160 and $0.0162 resistance levels.
The crypto market cap and bitcoin (BTC) are currently surging above key resistances.Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are also correcting higher.
Source:
https://www.newsbtc.com/2019/09/03/bitcoin-price-btc-signaling-bullish-reversal/And we could say that it is confirmed by breaking up:
Source:
https://www.tradingview.com/chart/BTCUSD/GlU7dhnA-BITCOIN-UP-OR-DOWN-OF-THE-TRIANGLE/I think that if we take into account the new events that give a lot to talk about, such as the so-called "Cepo" of Argentina, it may have helped a little to raise the price if we apply the simple Offer-Demand Law.
That's all fine and dandy. Yet, in this thread, we do not tend to care too much about making overall crypto market trends and assertions because those kinds of analysis tend to be too vague and are not really thread specific.. which we talk about king daddy bitcoin here.
Another thing that seems to be taking place, on the longer trend is an ongoing purging of the froth in the altcoin (shitcoin) market, so yeah, maybe some of those shitcoins will start to perform, but I believe that a lot of members here, apart from the trolls and shills kind of have a preference to see shitcoins getting purged more and more and more, so perhaps the overall growth of the "crypto" market is an indicator that is important to consider, but I doubt that it is as important as figuring how king daddy is doing relative to the other crap..
Also, I have held a kind of tentative theory that alt coins are going to get another pump, along with bitcoin, but the performance of altcoins in the past year or so, and maybe even moreso in the past 4 months has been lending more credence to a possible outcome in which even fewer of them pump (or have any kind of season), so that might even be a better scenario in terms of bringing the importance of bitcoin more to the front - since a lot of the altcoins tend to believe their path to pumpening success is to mislead folks into believing that either there is something wrong with bitcoin or that they are serving some kind of comparable role to king daddy.... which over the years, several of us, here in these parts, have found to be negative general altcoin attributes...
