seems like supporting levels have been established. We'll see around 8500-8600 before either consolidation or retracement. The reason I cannot be sure this time is due to the fact that institution money could flow in and push the price of BTC higher than before.
The few scenarios and how they will affect the alts.
1. BTC grows steadily and continue pass 8550, strong alts grow, weak alts slowly bleed more.
2. BTC shoots up due to institution money, bleed alts dry due to the speed of BTC price increase.
3. BTC grows steadily and consolidates around 8500-8600, alts florish.
4. BTC grows to around 8550 area, then pull back into correction bringing some alts down.
5. BTC starts correction wave now. --> I really wish this would happen so I can buy more..... (Cries.....)
I think the best case would be #3 but the most realistic scenario that may happen could be #1.
Like always, let me know what you think. If you have any questions and comments shoot me a message and I'll gladly answer them for you
The few scenarios and how they will affect the alts.
1. BTC grows steadily and continue pass 8550, strong alts grow, weak alts slowly bleed more.
2. BTC shoots up due to institution money, bleed alts dry due to the speed of BTC price increase.
3. BTC grows steadily and consolidates around 8500-8600, alts florish.
4. BTC grows to around 8550 area, then pull back into correction bringing some alts down.
5. BTC starts correction wave now. --> I really wish this would happen so I can buy more..... (Cries.....)
I think the best case would be #3 but the most realistic scenario that may happen could be #1.
Like always, let me know what you think. If you have any questions and comments shoot me a message and I'll gladly answer them for you
Comment:
PLEASE FOR THE LOVE OF GOD GO DOWN SO I CAN BUY MORE DAMMIT