Still, we are waiting for the bull ride on altcoins.
We think everyone is waiting for this.
We expected a bull ride after BTC will cross 10K.
It might be also possible that the market will enter altcoins once BTC reaches its previous ATH which is 20K.
This might be the case.
Anyway, it is a good idea (we marked that on our telegram group a couple of days ago) to swap your crypto assets to BTC for the time being.
We will keep you posted on the current situation on BTC and the other altcoins.
Ok let’s get down to technical analysis:
• Reversed head and shoulders pattern observed – according to its theory the price goal for the near future is nearly 15K
• Ichimoku Cloud - The price is over Tenkansen which is over Kijunsen. There are all above the cloud. This is bullish.
• Weis Waves – There is very little supply = no one wants to sell
• Volume – and this is pretty weird. Since the last peak at 14K the volume gradually goes down. This is the only thing which may cause another BTC sale.
Beware!
We might go really slowly to this 15K level.
We will keep you up to date.
Let us know what you think of such a scenario in the comment section.
The volume is decreasing
On the 1H time frame
We would be heading south
May be mid 12K