When it comes to the chart signals and dynamics, they can always easily change.
Remember that we have a multitude of "mixed signals".
The longer Bitcoin stays above EMA10, the weaker the bears become. The longer Bitcoin stays near strong resistance, above $19000 in this case, the stronger the bulls case becomes.
If Bitcoin drops and closes below EMA10 ($18911), the bears gain the upper-hand short-term activating a correction/retrace.
The charts are always changing and we easily adapt to change.
What won't change is the fact that the altcoins market will grow regardless of what action Bitcoin takes.
Example:
1) Bitcoin breaks bullish. This is always good for the entire cryptocurrency markets and would send the altcoins higher as well. (I am still referring to "altcoins" as all the Altcoins minus the TOP15).
2) Bitcoin breaks bearish. If the break is really strong, we can see the altcoins drop together with Bitcoin just to detach after a few days and suddenly start to grow strong.
Conclusion:
In this phase of the market cycle in which we are at, the altcoins will grow regardless of what Bitcoin does.
As for Bitcoin, we have a strong bullish trend, a strong bullish bias and technically the chart is bullish. We have potentially early bearish signals still in-play.
In this mixed scenario... We simply step back and wait.
Namaste.
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Previous Bitcoin analysis from December 2020
Dec 5 | Bitcoin Bollinger Bands | Weekly & Monthly
Dec 4 | Bitcoin Weekly | Looking At The Candles (Weekend Entertainment)
Dec 1 | Bitcoin Monthly & Why We Go Down Before Go Up!
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🅱️ Bitcoin To ~$16,500 Now Confirmed!
(But the altcoins we trade will grow strong... Switch now!)