Last week closed higher than the 15-Feb. week where Bitcoin hit its previous All-Time High.
The current All-Time High on this exchange ( ) is currently set at $61781.83, hit on the 13th of March.
As Bitcoin grows, the Altcoins market is also doing great and showing positive numbers.
We stay , always, above EMA10.
Bitcoin weekly, BTCUSD (W), hasn't tested EMA10 as support since October 2020.
Currently, EMA10 is sitting at $47425.
The next resistance weekly is set at $65,000 short-term followed by $73,000 and $80,000 if the bulls can stay on top.
$100,000+ is still in the cards... Fiat money printing is set to continue and thus cryptocurrency ( Bitcoin /Altcoins) is positioned for massive growth.
This is not a prediction of future events, Bitcoin has grown by 14X since last year or more.
The altcoins are also growing, some are doing really good with 20X+... This is only a small portion of course, but we don't see this type of action when the bears are in control, we only see this in a bull market.
What About Altcoins vs Bitcoin Short-Term?
Many of the Altcoins vs Bitcoin pairs had already an initial breakout and a secondary jump, many are ready to print a strong correction/retrace.
Please keep in mind that it is completely normal to see this happen.
You can see corrections of 30%, 40%, and 50%+...
But some of these altcoins have been growing for months and by 100%, 200%, 300%, and even 500% or more.
If you are trading, focus on the pair and timeframe you are looking at, let the other things go.
Extract the numbers and start to trade...
Adjust based on the results.
It doesn't matter what really happens, we need to sit back and watch, after having our plan, to see what will really happen with any open trade.
Since we calculated the potential risks as well as profits, there is no surprise for us.
The cryptocurrency markets are set to continue growing...
This is Alan Masters.
Thanks a lot for your support!