NOTE: Patterns shared over the last several day’s updates are all on track and still in play.
Now we have BTC recovering well from spike down right after close yesterday on what looks like it will be higher volume on XBT so close today could be a strong indicator BTC is ready to test key $7250 range.
Reread that — BTC is ready to move up. Altcoins have not proven they are going to move with BTC yet and that’s a major red flag.
Hopefully we’re just paranoid (as all good SAFE traders should be) and altcoins explode higher — as the ETH chart we prepared yesterday shows — ETH and other key altcoins were a good tell that the move down for BTC was a headfake ($6450 key level was also helpful to “stay in the trade” or add).
But as the biggest gain chart below shows — the major altcoins are nowhere to be seen vs BTC so far today — If you’re new to crypto — just know
BTC UP ALTCOINS DOWN has happened before — and it can be deadly and we need to stay alert for it.
We’ll be watching and updating as needed.
3 CHARTS — ALTCOINS GETTING HAMMERED VS BTC?
showing yesterday’s XBT chart for reference — looking like strong reversal with volume so far today but of course CLOSE IS WHAT MATTERS.
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