How I'm Playing Bitcoin and Ethereum After a Monster Up Day
After coiling for days,
BTCUSD
and
ETHUSD
both made monster moves up (currently both up over 5%). Going into the close (7pm CT) I would expect to see some profit taking with hopes price settles above 8000, which would be a good sign for bulls. WIth that said, the algos have become quite efficient at running stops. On big up days like this, you'll typically see alts follow suit. That overall wasn't the case with most down 4+%. If we see a pullback in Bitcoin, I could see money flow into alts over the next couple of days. Another chart to pay attention to is
USDTBTC
, which has acted as a great
BTCUSD
inverse.
Please like and follow if you enjoy my analysis :) Thanks!
BTCUSD
and
ETHUSD
both made monster moves up (currently both up over 5%). Going into the close (7pm CT) I would expect to see some profit taking with hopes price settles above 8000, which would be a good sign for bulls. WIth that said, the algos have become quite efficient at running stops. On big up days like this, you'll typically see alts follow suit. That overall wasn't the case with most down 4+%. If we see a pullback in Bitcoin, I could see money flow into alts over the next couple of days. Another chart to pay attention to is
USDTBTC
, which has acted as a great
BTCUSD
inverse. Please like and follow if you enjoy my analysis :) Thanks!
