NOTE: tl:dr Time to pay close attention to the crypto market again. LOTS to read — highly recommend you review it all as we see many signs things will be picking up in terms of volatility soon….
There’s a lot of updates NOT in the charts below — so you’ll miss it if you only review charts–but charts are after detailed analysis in any case….
Here’s what we know:
- BOTH BTC and large altcoins have bullish patterns that signal much higher prices
- The IT/LT edge is currently with the bulls for BTC
- There is no trading edge ST (see BTC chart below)
- The last week brought BIG MOVES for BTC and patterns say we’re at key levels which usually brings volatility so more big moves are mod/high prob.
- We have not seen any meaningful confirmation that THE BOTTOM is in for BTC or ALTCOINS — we have to consider at least a retest of the lows is POSSIBLE until we see strong bullish price and volume action (Bullish wave 3)
And most importantly for today’s update
6 ALTCOINS VS BTC The LT edge is currently with the bulls for LARGE ALTCOINS vs USDT AND VS BTC HOWEVER
Most large altcoins broke down at some point last week and are still in a BEARISH WAVE vs BTC = no trading edge and no confirmed bullish patterns to justify new trades that THE BOTTOM IS IN.
KEY TAKEAWAY — Bullish case for BTC still the strongest in the crypto market.
NEXT TOPIC: MORE ON 6) ABOVE THE BULLISH CASE FOR ALTCOINS–ARE THEY ABOUT TO EXPLODE UP (OR DOWN) VS BTC??
For the last two months we’ve seen one head fake after the next from altcoins vs BTC– As recently as our last post we nailed a big move (20%) in XMR but that could be explained by an upcoming fork and price has pulled back so we’re not seeing bullish follow through yet. Today we’re seeing a similar spike in STR/XLM (see chart below for details — far from a confirmed bullish move.
So the pattern of pounding altcoins is still very much in tact HOWEVER
Now we’re seeing the drops vs BTC with MUCH lower volume — That means SOMETHING
Think of it this way:
THEY are driving prices down and while it’s true BTC is going up, there’s not strong selling from altcoins….that could be bullish for altcoins–so now we watch carefully for clues from the charts, patterns, indicators and targets
and we are seeing some bullish patterns on shorter term time frames for many large altcoins —
TAKEAWAYS – key — too early to take decisive action — this is research and speculation on probabilities to prepare for decisive action!
- The current crypto market set up is ripe for a BIG MOVE from altcoins — and there is SOME evidence that move will be UP vs BTC AND USDT — but we can’t front run this — for now it’s something to study and watch carefully — which you know we will — just like we did when we called BTC UP / ALTCOINS DOWN weeks ago….
- The LT bullish case for large altcoins is very much edge to bulls, ST/IT a case is DEVELOPING — it’s not high prob to front run this.
- BTC’s charts say ALTCOINS are going to have BIG MOVES one way or the other. The IT/LT bullish case for BTC is edge to BULLS and no trading edge short term — This means there is a trading EDGE that BTC will be moving higher (at least above $12000 but as charts below show could go MUCH higher) — so BTC is the safer bet at the moment but not safe to bet 100% BTC plus altcoins could see EXPLOSIVE moves higher vs BTC…. AND FIAT CASH COULD BE THE BEST BET OF ALL ST/IT so assume nothing.
- Volume is key (as usual) — The entire world knows about crypto now and wall street is in the game and trading volumes are WAY lower recently? Really???? Our speculation is says smart money is waiting patiently and slowly building positions while new traders get increasingly frustrated and slowly but surely sell their crypto….
There’s more to share but that’s enough for now — watch XMR and STR/XLM closely ST (charts shown below)–they will be good indicators for altcoins short term and we’ll see if the rest of the large altcoin market follows….
FINALLY — REMEMBER
Wall Street, Whales and Bots are HIGH PROB to make money — a lot of money– and they have to make their money from SOMEONE — they can’t just invent profits from thin air — TRADE SAFE and don’t let that someone be you.
4 Charts — Time To Review and Adjust the Trading Strategy? — Definitely Review!
Chart from FEBRUARY 12 POST — Patterns showed the way from $8000 so far….
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