Hello traders today ill be going over a pretty detailed analysis on Bitcoin and how facing its ATH will effect the crypto markets.
+So first off I want to say congratulations to all the traders and long term holders for coin. Even if you bought at the peak in 2017 you are have no broken even.
+Now to begin with my TA Bitcoins ATH was $19,697.
+We can see on the chart that Coin actually wicked above this level 1.5% but failed to close which caused sell off. not a crazy sell off but definitely a decent one.
+With Alt season coming around I believe that we could definitely see some accumulation between the levels of 17,174 and 19,392.
+If this plays out market makers would create a accumulation zone for coin and pump alt coins due to the fact that crypto market exclude Bitcoin is slowly rising over time.
Which would be the start of Alt Season.
+What I've noticed over time looking at the total crypto market cap exclude coin Is that it actually is about .5% more then market cap if you add coin.
+In the comment section below I will share both my TA's on both market caps.
+My second possibility for coin is coin seems to be creating a rising trend line started around the beginning of November
+To Confirm this any trend line it needs to be respected 3 times. That is called a confirmed trend.
+if this comes into confirmed trend Coin and many other alt coins will fly past ATH and soar.
+I really can't give any TP's in this post because when a asset is creating facing ATH I find very difficult to have perfect target prices.
+A new set of TA will have to be formed because Bitcoin is going to rocket soon we all know this but we just don't know when.
+But until then traders remember trade smart profit more the best is yet to come!
+So first off I want to say congratulations to all the traders and long term holders for coin. Even if you bought at the peak in 2017 you are have no broken even.
+Now to begin with my TA Bitcoins ATH was $19,697.
+We can see on the chart that Coin actually wicked above this level 1.5% but failed to close which caused sell off. not a crazy sell off but definitely a decent one.
+With Alt season coming around I believe that we could definitely see some accumulation between the levels of 17,174 and 19,392.
+If this plays out market makers would create a accumulation zone for coin and pump alt coins due to the fact that crypto market exclude Bitcoin is slowly rising over time.
Which would be the start of Alt Season.
+What I've noticed over time looking at the total crypto market cap exclude coin Is that it actually is about .5% more then market cap if you add coin.
+In the comment section below I will share both my TA's on both market caps.
+My second possibility for coin is coin seems to be creating a rising trend line started around the beginning of November
+To Confirm this any trend line it needs to be respected 3 times. That is called a confirmed trend.
+if this comes into confirmed trend Coin and many other alt coins will fly past ATH and soar.
+I really can't give any TP's in this post because when a asset is creating facing ATH I find very difficult to have perfect target prices.
+A new set of TA will have to be formed because Bitcoin is going to rocket soon we all know this but we just don't know when.
+But until then traders remember trade smart profit more the best is yet to come!
