FLO - ing into Altseason
Updated
Just guessing that a lot of alt coins are getting primed for lift off right now based on a few non TA factors:
1. There are tons of new bitcoin owners that are excited and have been waiting on the sidelines for this "bubble" to pop. Coinbase has added hundreds of thousands of new users over the last few months.
2. The typical mentality of those new to the space seems to be "Well I missed out on bitcoin when it was super cheap, what other coins are there that can make me millions of dollars or at the very least more bitcoin since i can only afford a little?" Once you actually start to learn these markets or pay attention at least, you hear about people making 5x and 100x trades and you want in.
Florin coin is tried and true in the range it currently is in, and could easily test the resistance wedge which would mean around 30% gains from its current levels. it will likely dip back into the buy zone with another bitcoin leg up (it is just about to break 10k on coinbase as i type). If bitcoin shoots to around 112K after a 10k break similar to the pattern that played out in 2013 (think im joking? today 4 years ago was its first break of $1000) we could see an excellent time to buy altcoins and as the price wains, new money will flow into altmarkets in search of "the next bitcoin".
This analysis is probably good for lots of altcoins out there right now, but i wouldn't consider it investment advice, i am no expert. Good luck trading.
1. There are tons of new bitcoin owners that are excited and have been waiting on the sidelines for this "bubble" to pop. Coinbase has added hundreds of thousands of new users over the last few months.
2. The typical mentality of those new to the space seems to be "Well I missed out on bitcoin when it was super cheap, what other coins are there that can make me millions of dollars or at the very least more bitcoin since i can only afford a little?" Once you actually start to learn these markets or pay attention at least, you hear about people making 5x and 100x trades and you want in.
Florin coin is tried and true in the range it currently is in, and could easily test the resistance wedge which would mean around 30% gains from its current levels. it will likely dip back into the buy zone with another bitcoin leg up (it is just about to break 10k on coinbase as i type). If bitcoin shoots to around 112K after a 10k break similar to the pattern that played out in 2013 (think im joking? today 4 years ago was its first break of $1000) we could see an excellent time to buy altcoins and as the price wains, new money will flow into altmarkets in search of "the next bitcoin".
This analysis is probably good for lots of altcoins out there right now, but i wouldn't consider it investment advice, i am no expert. Good luck trading.
Trade active
Back in the buy zone.Note
I should probably close my trade here, but im going to hold until this bubble dies down. I still think the alt markets are going to flood with new money once bitcoin slows down some.Trade active
Patience is a virtue. Back above 1k
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