Very simply - One rising trend-line seems to be dominating and two downward trend-lines. Intersections occurring on 9th July and 19th Aug.
Consensus 2018 had little immediate effect on Bitcoin, which I think lead to a bit of a sell off. Price changes on previous Consensus events have been varied, but for some reason people bought into the hype and were left a little disappointed. The lack of positive growth on several positive news stories around the same time is confirmation that we are still in a Bear Market. Its also interesting to note that Volume has been trending lower over the last couple of weeks, suggesting to me that the Bear Market is starting to exhaust itself. LOTS of positive effort has been taking place within the Industry to facilitate Institutional Investing (more OTC desks, futures, derivatives, greater liquidity, multi-cig wallets, custody solutions, dark pools, audited stable coins and crypto price index) and it seems that pretty much everything is nearly ready for the big money to enter, the LAST piece in the jigsaw which I believe will open the flood gates will be the conclusion of the 3rd Meeting of the G20 in Argentina, which should indicate how the Central Banks and Governments are going to treat the crypto and ICO market going forward. Once this is clear, and it's neutral to positive, the big money will enter the market. As McAffee mentioned in his last post, money is likely to flow into the top 10 crypto currencies first, with Bitcoin leading the pack. Until mid July I feel the Bitcoin will trade sideways to lower within the wedges. Due to several software releases and announcements its likely that a few cryptos will surge at the slightest positive move from Bitcoin, these include, Tron, Nuls, EOS, 0x, SONM, Ontology, VeChain, Zilliqa, WanChain, Neblio, Aelf, Ethos, Fusion, High Performance Blockchain, and maybe others; but not expecting the main Altcoin rally to begin properly till Mid August.
Consensus 2018 had little immediate effect on Bitcoin, which I think lead to a bit of a sell off. Price changes on previous Consensus events have been varied, but for some reason people bought into the hype and were left a little disappointed. The lack of positive growth on several positive news stories around the same time is confirmation that we are still in a Bear Market. Its also interesting to note that Volume has been trending lower over the last couple of weeks, suggesting to me that the Bear Market is starting to exhaust itself. LOTS of positive effort has been taking place within the Industry to facilitate Institutional Investing (more OTC desks, futures, derivatives, greater liquidity, multi-cig wallets, custody solutions, dark pools, audited stable coins and crypto price index) and it seems that pretty much everything is nearly ready for the big money to enter, the LAST piece in the jigsaw which I believe will open the flood gates will be the conclusion of the 3rd Meeting of the G20 in Argentina, which should indicate how the Central Banks and Governments are going to treat the crypto and ICO market going forward. Once this is clear, and it's neutral to positive, the big money will enter the market. As McAffee mentioned in his last post, money is likely to flow into the top 10 crypto currencies first, with Bitcoin leading the pack. Until mid July I feel the Bitcoin will trade sideways to lower within the wedges. Due to several software releases and announcements its likely that a few cryptos will surge at the slightest positive move from Bitcoin, these include, Tron, Nuls, EOS, 0x, SONM, Ontology, VeChain, Zilliqa, WanChain, Neblio, Aelf, Ethos, Fusion, High Performance Blockchain, and maybe others; but not expecting the main Altcoin rally to begin properly till Mid August.