BTC is the only crypto THEY ($XBT futures) can trade on a major exchange — that plus years of crypto trading history plus the current charts below show that it’s unwise to assume any major move (ESPECIALLY A MOVE HIGHER) in the crypto market won’t include THE KING.
NOTE: The battle at BTC $7250 rages on while SOME altcoins look more bullish — should that effect your trade strategy long term?
Everything outlined in our post yesterday is still very much in play short term so be sure to review that post (just click early updates link), but today we want to go “bigger picture” longer term and dust off a few key numbers we think are now the real focal point of the current set up:
WILL BTC AND ALTCOINS BREAK CRASH LOWS?
The short answer for key altcoins LTC and XMR which have not yet broken 2018 crash lows = YES
The short answer for BTC = MAYBE — but not nearly as high probability as altcoins.
Those short answers mean SOMETHING — and we’re wiling to speculate it means that BTC is still driving this market and as of now has a bullish edge to MOST altcoins.
TAKEAWAY — Short Term: anything is possible and it’s currently best to be on the sidelines or with very low risk trades- several of which we’ve shared
LONG TERM? Don’t fall too in love with altcoins at the expense of BTC in your IT/LT trading portfolio
3 CHARTS — HOLIDAY GAMES CONTINUE — BTC $7250 STILL THE FOCUS
Note: If we close below $7250 today — need to watch carefully for reentry trades above $7250 tomorrow when volume is likely to increase after US holiday. Close is what matters but CLOSE TOMORROW if volume higher = important confirmation.
NOTE: BTC chart got cut off — top should read — BTC CURRENT MOVE LOW: $7168
NOTE: we used Bittrex for XMR because highest volume Binance exchange does not trade XMR in USD or USDT
This site is for educational and entertainment purposes only and not in any way intended to be investment or trading advice. You are 100% responsible for your financial decisions at all times. It is highly recommended you DO NOT make any investment or trading decisions depending upon what you read on this blog/newsletter! All information presented (c) 2018 JBP cons, inc. All rights reserved