Have we gone from to short-term after we hit 3 targets for our last BTCUSD trade?
Let's take a look...
Feel free to hit like if you want to now show your support.
On the chart above we have the 'UPPER TRENDLINE' and 'LOWER TRENDLINE'... This is the range in which Bitcoin is trading right now.
First, keeping it simple:
- 1) If prices move above the 'UPPER TRENDLINE', Bitcoin can move higher and reach our next target at $8550 and beyond.
- 2) If prices move below the 'LOWER TRENDLINE', Bitcoin can move lower and test the last low at $7720.
- 3) If Bitcoin can't break either trendline, we are likely to see its price moving within the range mentioned above... This is likely to happen since the altcoins are growing and Bitcoin sideways is good for Altcoins growth.
Bitcoin continues looking good, solid and strong.
This short-term analysis has a few mixed signals, so we have to wait to see what the next move does...
In the meantime, many altcoins are having a very strong wake-up call...
Altcoins Market Update
I mentioned several months back about the altcoins hitting a low and starting to grow for months to come...
All those altcoins that hit a low back in August 2019, have been either consolidating or growing since their new ATL hit.
Now, there are some altcoins that are still going down and recently hit new lows (late September), but these pairs as well are now consolidating and many are having strong moves up.
The altcoins market continues to heat up...
If you missed one opportunity, do not worry, many more will come.
Even if you see huge growth, remember that this is only the beginning... And if you are reading this now, buying/trading, then you are already a winner, since you managed to catch the bottom of the altcoins market before the next run.
Thanks a lot for your continued support.