Bitcoin | Quick Update + FULL Altcoins Market Update

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As for BTCUSD ( Bitcoin ), remember that we are just seeing a small price bounce... We are likely to see lower prices after this bounce is over.

A stronger correction is likely to take place.

We keep this view as long as Bitcoin remains trading below its All-Time High ( ATH ).
(More details in my previous analysis)

Altcoins Market Update

We focus our attention mainly on the altcoins.

We trade Altcoins vs Bitcoin (ALTSBTC).

When we mention 'Altcoins' we refer to all altcoins minus the TOP10, basically the alts we mainly trade.

The TOP10/15 tend to have their own cycle so we refer to them individually.

The altcoins market will continue to do good. In fact, I believe it will do great.

Many altcoins will complete their retrace from the last bullish wave and end up in a higher low, which will then lead to a higher high.

Between each wave, we will have some sort of consolidation take place each time.

Not many altcoins will continue to hit new lows but those who do need to be checked closely, as they will have huge potential for a strong reversal.

At this point, patience is the key.

We buy and hold to later sell on target but we also buy and hold long-term.

There are many strategies that can be used when trading, build your own, based on your own likings and lifestyle for maximum success.

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Really appreciate your analysis
+2 Reply
Hello, what is best price to get long in btc.
+2 Reply
@Drntrd, Missed the boat......
+1 Reply
alanmasters paullord1993
@paullord1993, Maybe for now, there will be more opportunities to buy Bitcoin for sure.
@Drntrd, Depends on what's your plan.

There are different strategies that can be used based on your trading and lifestyle.

Your finances and goals.

It really depends on you.

+1 Reply
deelee99 Drntrd
@Drntrd, Buy and hodl. There will be many dips along the way, and yes you could buy cheaper if you time it right, but against this is the greater risk of being left behind when the next surge happens.

No price is too expensive. This is not financial advice by any measure, but buy and hodl is what I've been telling friends and family from $5k.
Looking at many indicators this may not just be a bounce. If it is as you suggest where do you think it will likely finish it's move? Many indicators suggest this move will be powerful.
+1 Reply
Fair analysis, and as usual my opinion should never be taken as financial advice, but let me tell you why I would not recommend alts unless you are an experienced trader, or you are connected with a trusted insider.

Ignore the hype of 50-100x profit margins. Most people would be more than happy with 20x, or even 10x, and while 100x can indeed be made it's highly unlikely that you will be the one to bank it.

New blood does not harvest the big bucks. You will be competing with people that are close to the alts, such as the development crew, programmers, others connected with the alts, their families and friends, and also professional dealers and traders, oh yes and their families and friends. So good luck with that. If you're still interested, first consider two things: 1) Whatever profit those insiders make, can only be coming from the investors they attracted into their 'good thing'; and 2) of the thousands of shitecoins being churned out by opportunists and scammers, >95% will in time become close to worthless.

Most people I know that have invested in the 'next miracle that's going to the moon and beyond because it does what no other shitecoin could do', are lucky if they get part of their investment back.

Stay with the A-team, BTC and ETH, these are both going places, while the shitcoins will continue attracting newbies that are easily seduced by dreams that mostly turn into nightmares.

As ever, just my opinion.
+1 Reply
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