BTC Continues Still. WTF. 40K. Can we break up to 50K???
40K for BTC. Huge milestone. 1 trillion market cap for the whole of cryptocurreny as of yesterday.
But where next?
If this 4HR closes green it forms a nice hammer, keeping bullish momentum with almost a 2K wick at the bottom.
As a result I belive that would be the end of the bearish divergence leg down
However, if we get a 4HR crossdown on the MACD be cautious as last time if caused a 5.5K drop in under 8HRs
The second candle was wicked up alot to leave the drop at the close of the 8 hrs closer to 3K
If in longs could be suitable to get out and get in on the dips, or ride it out and hope the bullish momentum pulls the market back up
I may use it as a shorting opportinuty, if not use it to get into BTC and some top alts lower down
However, if we brake top of range I will update where BTC will be heading!
LTC had a couple pullbacks but our long trade still running very well as it is now in the $170 region
ETH had a bit of a sell off, now under $1200, but I expect the ATH to be hit within two weeks if BTC does not have a sell off
Altcoins struggled a lot today, not surprising as BTC isn't consolidating, it is still outgrowing almost all of them sending their xxx/BTC chart into further downtrends
Took a stab at VET, up a couple %, will probs close if BTC cannot break top of range before MACD crossdown
Example of a few alts I am looking for if BTC retraces, XLM, NANO, DOT, VET, LINK
These will fly when BTC stops running and forms proper consolidation....
But where next?
If this 4HR closes green it forms a nice hammer, keeping bullish momentum with almost a 2K wick at the bottom.
As a result I belive that would be the end of the bearish divergence leg down
However, if we get a 4HR crossdown on the MACD be cautious as last time if caused a 5.5K drop in under 8HRs
The second candle was wicked up alot to leave the drop at the close of the 8 hrs closer to 3K
If in longs could be suitable to get out and get in on the dips, or ride it out and hope the bullish momentum pulls the market back up
I may use it as a shorting opportinuty, if not use it to get into BTC and some top alts lower down
However, if we brake top of range I will update where BTC will be heading!
LTC had a couple pullbacks but our long trade still running very well as it is now in the $170 region
ETH had a bit of a sell off, now under $1200, but I expect the ATH to be hit within two weeks if BTC does not have a sell off
Altcoins struggled a lot today, not surprising as BTC isn't consolidating, it is still outgrowing almost all of them sending their xxx/BTC chart into further downtrends
Took a stab at VET, up a couple %, will probs close if BTC cannot break top of range before MACD crossdown
Example of a few alts I am looking for if BTC retraces, XLM, NANO, DOT, VET, LINK
These will fly when BTC stops running and forms proper consolidation....