The Weekend Was Pretty Boring. For the market.
If we check the headlines, nothing really impressive happened over the last several days (of course I loved the upwards movement). We all want to see a massive bull-run, but that takes time. I really prefer a slow move upwards, because that is more healthy than parabolic movements. The slow movement is probably because of upcoming tax-day in the USA (tomorrow). A lot of people fear that the market will crash because people need to pay crypto-taxes. Although I think most of the people already pulled out their money, it has an effect on the market because other people will wait investing until tax day is over.
If we look at the news the only thing that matters to me is the positive sentiment in mainstream media. Brian Kelly, a crypto investor, was invited by CNBC fast money and compared BTC to Microsoft and Cisco in the 80s. Although it maybe is a little exaggerated, it is good that this kind of people get the possibility to talk in big mainstream media. Another pretty cool thing is that Samsung joined the space. Samsung is researching the ability of blockchain to their supply chain management and will save 20% of their costs.
If we look at all TA masters, they are bullish on the long-term but expect some volatility on the way up. It is all part of the game and will really change if the market sentiment is all positive. Hold your patience, cold winter is almost over.
P.s. for all the TA lovers, Ether just completed it's ABC corrective wave. The breakout of ETH from the downward wedge that had been developing since December was supported by the MACD breakout.