On this ridiculously sleepy holiday, let’s take a glance at the wonderful world of cryptos.
In every case, the crypto in question has broken its descending trendline. I would consider this bullish.
Allow me to share a quick anecdote that I think might shed some light on this: way back in, oh, I think it was 1981 or so, I was descending the escalator to what passed as a convention center in San Francisco. This was before the Moscone Center. I don’t even remember its name, but it was basically a giant empty space under a building, and that’s where the West Coast Computer Faire (yes, that’s how they spelled it) was being held.
I was by myself, and these two adult men were a couple of escalator steps below me, chatting. I remember one of them saying to the other something like, “Yeah, but these are just toys”, referring to my beloved world of personal computers. I was instantly miffed.
What went through my head was the equivalent of what today would be, “OK, Boomer.” In other words, I dismissed these guys as old, out of touch, and behind the times. So I allow for the possibility that, when it comes to crypto, I am now THAT guy on the escalator. It could be. All I can say for sure is that cryptos have, in recent weeks, managed to bust through a potent trendline, and that could spell good times ahead for the HODL mob.