Pattern during holiday weekends
So far we’re seen a similar pattern this weekend to Memorial Day weekend i.e., the last major holiday/extended weekend in the US. There was a fairly substantial selloff going into the weekend before starting to rise and break out Saturday. If the pattern holds, we should see upward movement the next few days. Btw, I’m talking about the crypto market in general but especially Eth.
It could be pure coincidence but perhaps there’s something more going on. Going into a holiday weekend, people may sell off since they won’t be able to keep a close eye on the markets when visiting with family. But then having an extended weekend/seeing family amplifies feelings of positivity/optimism which may trigger buys as folks get more bullish on crypto long term. I’m guessing holiday weekends would amplify any sort of emotion-driven buying, e.g., FOMO buys and panic selling, since people tend to be more emotional around families, both positive and negative. This is of course pure speculation but I’d be curious what other folks here think.
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