This market has been fun the past few months. As bitcoin was trading sideways, alts had a very nice run. Shortly thereafter, we saw bitcoin break through its $4,200 resistance. What's interesting is that alt-coins have been moving before bitcoin. This is something new. But as we have seen, alts run when bitcoin is trading sideways. When bitcoin is dropping, we usually see the whole market come down with it. Keep this in mind.
As for the graph, I think it speaks for itself. Bitcoin has been on a 75% run since February 7th. It needs to come down to stay healthy. We all know that. My next buy target for Bitcoin is around $4,000-$4,400. If we all expect bitcoin to reach 50k+ in the next years, it has to form a steady foundation sub-$6,000. Bitcoin is losing steam, as approaching our largest Support/Resistance at $6,000. The chances of it breaking through this now, is very low.
XRPBTC has been getting destroyed for 4 months now. (Ever since bitcoin has been going up). This is something to look at. The graphs have been inverse. Will XRPBTC finally start it's run up when bitcoin turns around? I find this to be very likely.
Please share constructive comments below and be sure to check out my linked idea.
As for the graph, I think it speaks for itself. Bitcoin has been on a 75% run since February 7th. It needs to come down to stay healthy. We all know that. My next buy target for Bitcoin is around $4,000-$4,400. If we all expect bitcoin to reach 50k+ in the next years, it has to form a steady foundation sub-$6,000. Bitcoin is losing steam, as approaching our largest Support/Resistance at $6,000. The chances of it breaking through this now, is very low.
XRPBTC has been getting destroyed for 4 months now. (Ever since bitcoin has been going up). This is something to look at. The graphs have been inverse. Will XRPBTC finally start it's run up when bitcoin turns around? I find this to be very likely.
Please share constructive comments below and be sure to check out my linked idea.
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