At least 19.000 will be tested soon , rest depends on other financial and political factors. A new ATH is possible , you will decide what new ATP is. Alts will not have time to go up till 2020. Patience will win.
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Bulls tried to pump more at point B but it was obvious that can't be successful. (RSI etc.) Now we can see where will BTC continue the rise from... 9800 or 8500 , I expect 8500 but bulls are still have enough power to stop pullback at 9800.
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A little bit late as I've told above but fall came as expected , but 9800 passed easily next and actual reversal zone is 8500-8600 but political issues may pull reversal to 7300 or even to 5600. If in this period price movement slows down alts may recover some loses. If so , this will be a great chance to convert alts to btc without loosing btc before the ath run.
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We are still waiting for a decision for complete correction ABC elliot or an accumulation period around 10000 and then start a new ABCDE upward movement. For C point of correction still 8500-8600 is highest probability. If accumulation continues around 10000 level for 1-2 weeks alts may start rising a little bit. That would be a great opportunity to sell alts before next btc bull run.
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ABC correction is going slow , C will probably be reached after 2-3 weeks than expected. Still waiting for 8600-8700 in first week of August for finalizing correction. Only if 12000 is passed strongly then we may think correction was enough and new ABCDE has started.
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Long term : Bullish...
Short term bullish scenario is written above, in this case altcoins should be changed to BTC at 8600 level if you are not loosing btc.
Short term bearish scenario : Correction will first go 8600 then finish C at 7300/5600 in 3-4 months. This is a superb scenario for alts. Watch for it if you stuck in altcoins.
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Trade is active , just going slower than expected.
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ABC correction point C may be 7400 but main idea is still the same , first 8600 then 7400 are resistances
Trade closed: target reached
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ABC Correction end is about to complete. One last drop may take BTC to 7400 but no further.
@nagihatoum, Because money is flowing between flat and BTC (And a little with USDT - ALTCOIN parities )
On every movement of BTC (up or down) more panickers sell alts for BTC and they will keep dropping until btc ATH or a certain not to ATH.
I am also mostly in altcoins but never ever sell for less than I bought.