#BTC
We are seeing a very slow price action in Bitcoin and altcoins.
It's no surprise, as we had a holiday in the USA and, whenever that happens, things take a while to get back on track.
Tomorrow we will have many important economic data, and with them, the reaction in prices will be certain. Stay alert!
The bearish structure that brought us here is starting to lose strength, and still, the bears continue wanting to push the price lower. However, the range of $60K/$65K is where large buyers are willing to buy, and it doesn't seem like they will leave this region.
There is still nothing very interesting on the Bitcoin chart, but the bottom has always been marked by these characteristics, so there are no updates regarding that.
Today I also saw several posts with the volume chart of altcoins by Quant. Again: I see nothing different in this compared to the last two cycles, and after we did something very similar, there was a significant appreciation of altcoins. Therefore, the volume chart that is being widely shared is just another confirmation that extreme moments like these recent ones are what form the bottom for the entire market.
Starting tomorrow is when we should see this sideways channel between $64K and $71K being tested at its extremes, and certainly, the bulls will gain strength.
If we look at OTHERS/BTC, we see that it is once again trying to break the resistance around 0.13. As soon as we are able to hold above 0.14, altcoins will have much more strength and any relief in BTC will cause them to shoot up quickly. Altcoins have been crushed in recent months; there’s not much more room to go, except up.
Moreover, Bitcoin's dominance is already showing weakness. It has reigned for a long time; now it’s time to make room for altcoins.
If you can accumulate, keep accumulating. If you can't, but hold good projects, keep holding and don't sell at ridiculous prices like the ones we have now.
We are seeing a very slow price action in Bitcoin and altcoins.
It's no surprise, as we had a holiday in the USA and, whenever that happens, things take a while to get back on track.
Tomorrow we will have many important economic data, and with them, the reaction in prices will be certain. Stay alert!
The bearish structure that brought us here is starting to lose strength, and still, the bears continue wanting to push the price lower. However, the range of $60K/$65K is where large buyers are willing to buy, and it doesn't seem like they will leave this region.
There is still nothing very interesting on the Bitcoin chart, but the bottom has always been marked by these characteristics, so there are no updates regarding that.
Today I also saw several posts with the volume chart of altcoins by Quant. Again: I see nothing different in this compared to the last two cycles, and after we did something very similar, there was a significant appreciation of altcoins. Therefore, the volume chart that is being widely shared is just another confirmation that extreme moments like these recent ones are what form the bottom for the entire market.
Starting tomorrow is when we should see this sideways channel between $64K and $71K being tested at its extremes, and certainly, the bulls will gain strength.
If we look at OTHERS/BTC, we see that it is once again trying to break the resistance around 0.13. As soon as we are able to hold above 0.14, altcoins will have much more strength and any relief in BTC will cause them to shoot up quickly. Altcoins have been crushed in recent months; there’s not much more room to go, except up.
Moreover, Bitcoin's dominance is already showing weakness. It has reigned for a long time; now it’s time to make room for altcoins.
If you can accumulate, keep accumulating. If you can't, but hold good projects, keep holding and don't sell at ridiculous prices like the ones we have now.