After breaking, the ascending triangle, BTC.D has now retested the triangle + the long term downtrend line, along with the midline of the Bollinger Band (20EMA) and is showing some rejection. This is the perfect sequence of events and as a result the Alt's should have a better performance moving forward now that we're out of this bullish structure and back to the main trend. Of course if BTC does have a significant decline, we know what to expect. However, in terms of opportunities to buy and hold, this is movement suggests a better time to buy and hold in comparison to about a week ago week ago...
There has been a lot of blood in the water for the past week, and some Alt Coins have suffered tremendously. BTC.D and a correlation chart were of the leading indicators I used to try to navigate where I'd allocate.
There has been a lot of blood in the water for the past week, and some Alt Coins have suffered tremendously. BTC.D and a correlation chart were of the leading indicators I used to try to navigate where I'd allocate.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
