Be careful of a double top call because that means a major crash and that time has NOT yet come. Only inexperience would call this. (not poking you, whoever the analyst is)
Whoever is calling a double top now is uninformed and blind to the vast arrays of BULLISH setups across Altcoins landscape: Jaws of Wealth, Cup & Handles, Bullish Downward pointing symmetrical triangles...etc etc.
The fact that Bitcoin Cash is rising could portend that BCH will go in phasic with BTC. In other words, both go up.
I realise this is only the 1hr, but it failed to make a higher high (you might count as a flat correction??):
I guess we will see if it can break out in the next 6-10hrs.
Also regarding BCH, I meant that thus far, it has been completely "non-phasic" (in your terminology).... it's almost identically inverse:
I'm not pretending I have the knowledge or experience you have, but there are starting to be some real warning signs. You have been pretty spot on with btc so far, and you may be correct that btc has another run up to 10k before the top is in, but I dont' want to be hanging around with 10's of thousands of dollars on exchanges when the shit hits the fan.
As you have said many times, "btc is the moon that moves the alt coin ocean", so no matter how bullshish the outlook on many alt coins, it won't make a difference when btc dumps.
Thanks for your post's and comments.
I went back to a longer timeframe of
bchusdandbtcusdand found there were several periods of "phasic" activity (noted in blue):So you could be absolutely correct; there may be a "phasic" change soon. I'll be keeping an eye on https://fork.lol/pow/hashrate, since any substantial increase in bch hashrate leads to a decrease in btc hashing (and price). Whether or not it is causal or merely correlated we will see.
Like a mirror right now; the indicators and all!
The cycle overlap, phasic stage is expected