AlanSantana

Bitcoin $21,650 Followed by $26,420 vs Altcoins BTC Pairings

Long
AlanSantana Premium Updated   
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We are seeing some early action on the Bitcoin chart pointing towards higher prices... This is something we have been expecting and went LONG 10X (See below):
The question we would like to answer now is about the potential targets... How far up can Bitcoin go on this bullish wave?

We can see the first, easy target set at around $21,500.
This is an easy target for Bitcoin to hit on the way up.

The next target is sitting at EMA300 or $25,000+. Around $26,400 to be exact.

This is in the short-term.

How will this affect our beloved Altcoins?

The Altcoins are set to grow together with Bitcoin but not the BTC pairings.

Many of the BTC pairs for the altcoins we enjoy have been growing since June this year, some even since May.

After such strong bullish action they are set to enter a strong correction once Bitcoin moves ahead.

On the first strong move up by Bitcoin these Altcoins can drop in the range of 20-30%.
The ones that already produced strong growth.

As Bitcoin continues on its way up, these pairs, ALTSBTC, can continue dropping to 40%, 50% and maximum around 60% for some.

They will still end up in higher lows but be aware...
You should be selling on the way up on these pairs or prepare for this move that is soon to take place.

I hope you find this information useful.

I hope that Bitcoin grows for many weeks before the next bearish wave.

Thanks a lot for your support.

Namaste.
Comment:
Here you can find Bitcoin (XBT) in the short-term.
You can find the resistance and support levels for the current move.

Comment:
I mention here that the ALTSBTC pairs will undergo a strong correction once Bitcoin starts to move... But this doesn't apply to all the Altcoins, it depends on the chart.

The Altcoins that bottomed May/June 2022, yes these can correct but the ones that are bottoming in November and October 2022 can move ahead together with Bitcoin... For more, keep reading in the trade idea listed below!


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