Bitcoin held structure very well during this retracement. We can see that the initial spike came down to touch the 61.8 fib level with the bulls retaking the price for a few days. Prices dipped once again and held structure at the 50% fib level and has been gaining momentum ever since.
A massive increase in the market cap has been noticed. ALT's are starting to dip again as the market cap is moved towards BTC.
This is a massive indication to get your money out of the ALT's now and reinvest in BTC.
Wait for price to break 17200$ with stop losses at 15800. Profit can be taken if price action bounces off the ATH at about 19700 wait for a medium sized red candle on the 4H time frame as a confirmation of price reversal. To be safer wait for a new ATH before getting in.
A massive increase in the market cap has been noticed. ALT's are starting to dip again as the market cap is moved towards BTC.
This is a massive indication to get your money out of the ALT's now and reinvest in BTC.
Wait for price to break 17200$ with stop losses at 15800. Profit can be taken if price action bounces off the ATH at about 19700 wait for a medium sized red candle on the 4H time frame as a confirmation of price reversal. To be safer wait for a new ATH before getting in.
Comment:
Trade is now open at 17200$
Comment:
Price seems to be reestablishing itself above the previous resistance level of 16600$