We are in fron 4h crossover on B on which pretty much bottomed at this instance and provides significant gain right after crossing as bending upwards.
During movement analysis which pretty much played out as on previous TA posted on Feb. 3rd. in which one we tried to anticipate BTC moves and being very good at it now goes continuation.
This is previous TA posted :
As mentioned in previous TA, every level breached is tested and confirmed.
In front of us is attemp and most successfully brach pierce of 4250$/BTC and right after correction back to 4000 $.
Now, I'd suggest LONG on B with potential entries on coins which bottom as ZEC, LSK, NEO.
With S/L placed near (at 3826) we have 12:1 risk/reward ratio which is very nice.
So far, everything going according to the price action explained above.
For example, in this round we expect bitcoin to uptrend 10 % and buying properly chosen altcoin which should bring more than 25%-30% over btc
That's 1.1 (Bitcoin uptrended 10% over USD) X 1.3 (your altcoin which uptrended 30% over Bitcoin)= 43% USD gain.
People don't understand technical separation (i.e.) your altcoins VS btc AND USD denomination.
When you go to a gas station, you refill your tank with 100 usd, not with 0.001Btc.
Therefore, as long btc grows, pick an alt which is expected to outperform over B.
(this is how B is accumulated properly) while pushing to 4250.
I don't expect any more retest of lows.
All those people trying to persuade you to sell your position are people who don't understand market, market position and everything what follows.
Bitcoin is bullish, speeding up, technicals do confirm.
Macd confirms further bullsish momentum.
Stoch RSi too.
Long on B, don't listen to taxi driver and hairstylist along with proffessional amateurs calling them traders today.
Good luck guys.
Thank you mate.
Appreciate feedback by your end.
Happy earnings and don't hesitate to ask for whatever is needed regarding TA.
Thank you for your feedback.
bearish sentiment will be felt upon 4450 plays out.
First declination will occur on 4240 around.
All the best mate.
For example, a series of sideways movements could lead to an increase in the STOCH RSI levels without meaningful price action or volume. Then it could potentially just fall out and downwards because of the lack of volume and bearish market sentiment.
We passed it.
I'd say you don't understand. :)