BTC.D - Altcoin season is very near!
Dear my friends,
The market has too much confusing information. However, when I look at the weekly window, nothing has changed. BTC.D is retesting the support line on the weekly frame that it was previously broken.
What I see is that the downtrend of BTC.D will continue and will go down quickly.
On Altcoin's weekly chart, the uptrend is still unchanged.
Looking at BTC on the weekly frame, it has closed above the resistance zone. Price will tend to move in the 43k-49k area.
Continue to observe an important correlation between BTC and ETH prices. Although BTC's advantage over ETH is still increasing. But RSI has diverged and formed 2 peaks on the price line.
I boldly predict that Altcoin season is coming very close. In Q1 I will continue to hold my favorite altcoins. Don't use leverage at this stage.
Best Regards,
The market has too much confusing information. However, when I look at the weekly window, nothing has changed. BTC.D is retesting the support line on the weekly frame that it was previously broken.
What I see is that the downtrend of BTC.D will continue and will go down quickly.
On Altcoin's weekly chart, the uptrend is still unchanged.
Looking at BTC on the weekly frame, it has closed above the resistance zone. Price will tend to move in the 43k-49k area.
Continue to observe an important correlation between BTC and ETH prices. Although BTC's advantage over ETH is still increasing. But RSI has diverged and formed 2 peaks on the price line.
I boldly predict that Altcoin season is coming very close. In Q1 I will continue to hold my favorite altcoins. Don't use leverage at this stage.
Best Regards,
Trade active:
Looking at the short-term timeframe, we can see that the market has experienced significant volatility. However, on the weekly timeframe, you can observe that BTC.D is still moving as expected. It has reached a significant resistance on the weekly timeframe, and we can expect it to move towards the 47-48% range as previously forecasted.