Convex is doing good and we are going to look at it through the 1,2,3,4 Steps Pattern that I made up earlier.
The pattern consist in four steps that have been repeating across the Altcoins market.
#1) The initial bullish wave. #2) The first low after the initial bullish wave peaks and enter correction mode. #3) Is either a higher or lower low compared to March. Notice that Convex has a long-term higher low when comparing June (#3) to January when #1 started; a signal of strength. #4) Is the new bullish wave and also what we are expecting.
Additional support for this signal is the huge increase in trading volume as #3 comes in.
This pattern has been confirmed on the TOTAL index chart, Bitcoin, Waves and many other Altcoins.
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