For anyone wanting some hopium for the next bull run, I present the crypto total market cap chart:
What's interesting is look at the positions of the moving averages at the start and end of bull runs. At the start, you can see the MAs are close together and provide support/momentum for price acceleration in a bull run.
In contrast, at the end of a bull run, you can see how far apart those MAs are, showing that the market is massively overextended and has to pull back in order to consolidate. Look at the position of the MAs currently. The are all grouped together and starting to rise again...
TLDR: 2024 should be a good year!
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• They hold a bag of solid coins • They start getting FOMO • They lack the disposable income to buy • They sell their solid coins to chase after these FOMO coins • The coins go down
$SEI : I would like to see it come back to the .382 level here again and consolidate, similar how it did around $0.22. Still bullish until shown otherwise here but wouldn't be surprised to see a little cooling.