USD += of digital currencies rests on their += in BTC
With the LTC halving on the very near horizon (August), there may be limited time for it and other altcoins to post a profit on their relative increase in USD value to the BTC/USD pairing.
Presented here is a prediction of sorts. Because it opines more about wishful thinking about how the market should behave -- for the good of altcoins everywhere, obviously -- than it does about the reasons why Bitcoin may hit resistance and then make a pretty big move to correct, it may also be a bit of fiction which doesn't really reflect market realities.
Instead, the chart asks for a certain altcoin consideration, and its errors, intentional or not, extant or not, asks that you consider the importance of altcoin BTC value in the face of what could turn out to be a BTC rocket flight onto another interplanetary file system of its own devising. However it plays, one of two corrections is possible: altcoins increase in BTC value as support to their increased USD valuation and stability, risking otherwise that they become inelastic and fail catastrophically in both USD and BTC pairings; or BTC/USD corrects and a corresponding slump in altcoin BTC pairing is explained away neatly while remaining relatively constrained from leaving the market entirely.
BTC is seen rising in a parallel channel whose extension and imagined higher high correspond to a lower high to the left of the most recent BTC chasm, the bowl of our cup. The former resistance may yet prove to turn into a support if BTC's fantastical rise beyond the ether continues. Rumors the rocket ride is orchestrated by a single whale may give it the magic powers that fuel it, but a natural pivot may develop as the bears and bulls both see the need and profit in shorting BTC for altcoins to catch up as BTC takes off again for higher highs.
Presented here is a prediction of sorts. Because it opines more about wishful thinking about how the market should behave -- for the good of altcoins everywhere, obviously -- than it does about the reasons why Bitcoin may hit resistance and then make a pretty big move to correct, it may also be a bit of fiction which doesn't really reflect market realities.
Instead, the chart asks for a certain altcoin consideration, and its errors, intentional or not, extant or not, asks that you consider the importance of altcoin BTC value in the face of what could turn out to be a BTC rocket flight onto another interplanetary file system of its own devising. However it plays, one of two corrections is possible: altcoins increase in BTC value as support to their increased USD valuation and stability, risking otherwise that they become inelastic and fail catastrophically in both USD and BTC pairings; or BTC/USD corrects and a corresponding slump in altcoin BTC pairing is explained away neatly while remaining relatively constrained from leaving the market entirely.
BTC is seen rising in a parallel channel whose extension and imagined higher high correspond to a lower high to the left of the most recent BTC chasm, the bowl of our cup. The former resistance may yet prove to turn into a support if BTC's fantastical rise beyond the ether continues. Rumors the rocket ride is orchestrated by a single whale may give it the magic powers that fuel it, but a natural pivot may develop as the bears and bulls both see the need and profit in shorting BTC for altcoins to catch up as BTC takes off again for higher highs.