DO YOU THINK BTC WILL REPEAT THE SAME MOVE?
This is what I called 'A confusing move' where the price is neither breaking out nor breaking down. Last month, we saw the same move happening where BTC hovered around the resistance zone for quite some time instead of completely breaking down or breaking out. You can see how the RSI went totally opposite from BTC and indicated a bearish move in the market. Now, if you see the current price action, you can notice some similar patterns where BTC is hovering close to resistance, and the RSI gradually declining. This could possibly be a bearish indication for the market in the coming days.
Impact on the altcoins: If BTC repeats the same move then we may see some good greens on the altcoins. Trading with SL on the altcoins will save you from getting rekt.
So, what do you think about the current market move? Let me know in the comments.
Thank you for reading and trade safely.
Impact on the altcoins: If BTC repeats the same move then we may see some good greens on the altcoins. Trading with SL on the altcoins will save you from getting rekt.
So, what do you think about the current market move? Let me know in the comments.
Thank you for reading and trade safely.
BTC Update:
BTC is moving as per the above analysis. It looks like we will see another attempt to break the $25k resistance, if not, then a rejection for sure. So, do not sleep on this market. Grab an opportunity to scalp trade and make some extra cash.
Trade safely.