🅱️₿ Bitcoin Consolidates For The Altcoins

After all is said and done, Bitcoin continues trading above EMA10 on the daily timeframe.

The only reason why Bitcoin is not at $28,000 right now moving to $31,000 is to wait for the altcoins.

As Bitcoin goes sideways the altcoins grow, standard procedure remember?

The only time the altcoins grow is when Bitcoin goes sideways.

Previous bull-markets we would all be clear and even joke about the altcoins dropping when Bitcoin moved up and crashing when Bitcoin moved down. Only when Bitcoin goes sideways within a bullish wave would the altcoins grow.

Bitcoin is going sideways... Have a look at the Altcoins vs Bitcoin pairs, have a look at the smaller altcoins... See what is going on.

Namaste.

Comment:

Short-term indicators pointing to this short-term correction being over.

Bitcoin's 1H RSI went oversold/weak and also hit its lowest level since November.

We have higher lows as well as prices trying to climb back above EMA300 after bouncing off the 0.382 fib. retracement level.

The correction can end here.

It can also move up to re-enter sideways.

If it doesn't end and breaks down below the 0.382 Fib. level, the next support short-term is set at $22,330, followed by $21,877 for 0.618 Fib.

Market conditions continue to favor the bulls/GREEN!

Namaste.