Recent market moves are threatening to derail Bitcoin’s long-term uptrend.
About Jon CottonJon is BCB’s head strategist, with an emphasis on market intelligence. An expert in behavioural science and highly experienced chartist, Jon has been providing BCB’s clients with crypto and macro technical analysis since 2017, and has quickly gained a reputation for accuracy after accurately calling the December 2017 top and August 2018 bottom. Jon is also MD of British music production company Poseidon. He began studying technical analysis in 2000 due to its overlap with behavioural economics – much used in Poseidon's international marketing work, which has seen the company achieve three iTunes US number one albums among other notable successes.
ETH and XRP have finally joined BTC above their downtrends. We’re also starting to see some of the altcoins lead sentiment; which is a new development.
The crypto rally continues to look good, although some all-too-familiar resistance levels are proving a drag. Meanwhile shorts are at all-time highs.