Yesterday, there was an effective rally at the exact point on the lower line of small wedge(yellow circle). And then BTC successfully broke the upper line of small descending wedge, seems to be supported well, as you can see the red circle. One bad thing is that the volume is desperately small.
For those who didn't buy at 7.8k level, we recommened to enter at the point that BTC comes down at the upper line level again to retest.
Overall, most of altcoins seem not to reach previous high points due to strong resistance there. The possible reasons for that are,
1. Investors' confidence of BTC rising is dramatically reduced due to recent too uncertain movement.
2. As a phase change to bullish market to 10k, BTC dominance is increasing with decrease of alts' prices.
We think the first idea is more fit to current condition.
As you see in the attached chart, if the price moves follow the red arrows in the chart, it will be the phase shift to bullish market.(breaking mid-term descending trend line and being supported well above it)
Since prices of most alt coins are nearly bottom level in the big trend, some people assist second, but we think that alts' prices can go down more if BTC goes up strongly.
Recently, BTC price shows very vicious movement that induces 'bargaining sale' of individual investors through sudden up and down.
So there are some possibility of sudden movement even at this point.
So, for your safety investment, you can enter at the point that:
1. small wedge(green triangle) is succesfuly retested
2. mid-term wedge(blue line) is broken and succesfully retested it
3. mid-term wedge(blue line) is not broken and BTC goes down to touch the lower trend line of mid-term wedge(around 7k)
Please never buy at 'Panic' after sudden rise of BTC, and keep conservative trade until safe trade zone.
For more realtime brieing and signals, I recommend this channel: t.me/joinchat/AAAAAEqAZTmFR9xTOE4iTg
For those who didn't buy at 7.8k level, we recommened to enter at the point that BTC comes down at the upper line level again to retest.
Overall, most of altcoins seem not to reach previous high points due to strong resistance there. The possible reasons for that are,
1. Investors' confidence of BTC rising is dramatically reduced due to recent too uncertain movement.
2. As a phase change to bullish market to 10k, BTC dominance is increasing with decrease of alts' prices.
We think the first idea is more fit to current condition.
As you see in the attached chart, if the price moves follow the red arrows in the chart, it will be the phase shift to bullish market.(breaking mid-term descending trend line and being supported well above it)
Since prices of most alt coins are nearly bottom level in the big trend, some people assist second, but we think that alts' prices can go down more if BTC goes up strongly.
Recently, BTC price shows very vicious movement that induces 'bargaining sale' of individual investors through sudden up and down.
So there are some possibility of sudden movement even at this point.
So, for your safety investment, you can enter at the point that:
1. small wedge(green triangle) is succesfuly retested
2. mid-term wedge(blue line) is broken and succesfully retested it
3. mid-term wedge(blue line) is not broken and BTC goes down to touch the lower trend line of mid-term wedge(around 7k)
Please never buy at 'Panic' after sudden rise of BTC, and keep conservative trade until safe trade zone.
For more realtime brieing and signals, I recommend this channel: t.me/joinchat/AAAAAEqAZTmFR9xTOE4iTg
