Sentiment: #Bitcoin's +13% price rise over the past week has traders speculating on many new support and resistance lines, including #50K, which is widely expected.
Ironically, once these price levels were breached, Bitcoin flipped the script in the early hours of the weekend as the crowd became too focused on the $BTC price. The trend throughout the #bull cycle, which began back in October, has been as follows:

1️⃣ #Bitcoin enjoys isolated pumping, crowd dominates $BTC.
2️⃣ Profits are distributed in #altcoin, the crowd becomes greedy.
3️⃣ #Bitcoin is retreating slightly, #altseason is ending much more abruptly.
Keep an eye on how the crowd reacts to this 2nd step in the cycle this weekend and whether it begins to increase open interest levels in speculative #alts. If so, step 3 will likely come quickly.
Sentiment: #Bitcoin's +13% price rise over the past week has traders speculating on many new support and resistance lines, including #50K, which is widely expected. Ironically, once these price levels were breached, Bitcoin flipped the script in the early hours of the weekend as the crowd became too focused on the $BTC price. The trend throughout the #bull cycle, which began back in October, has been as follows:

1️⃣ #Bitcoin enjoys isolated pumping, crowd dominates $BTC.
2️⃣ Profits are distributed in #altcoin, the crowd becomes greedy.
3️⃣ #Bitcoin is retreating slightly, #altseason is ending much more abruptly.
Keep an eye on how the crowd reacts to this 2nd step in the cycle this weekend and whether it begins to increase open interest levels in speculative #alts. If so, step 3 will likely come quickly.