The chart above indicates that we have touched base with the 200MA on the 1D timeframe which is why I am 50% in as far as the capital I will invest in Alts. There is a big chance BTC is using the 3D chart to stage the bounce up so I left 50% in the bank just in case. The probability is there that once we hit the low 7k we bounce up and this will be nothing but a healthy and perfect retrace on our way back up to 20K, this is the likeliest of scenarios. however, if that 200MA does not hold then we are going to the last 200MA (the weekly) which is around the low 4k area.
NOW, THE LEGEND;
Support are green
Resistance are Red
Horizontal support lines are Black the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is Black
THE TREND: Going a little further down still.
THE OUTLOOK: Unsafe to buy BTC but safe to buy top 10 market-cap Alts as they dip.
Be safe and follow me to make money and stay ahead of the curve.
keep lookign we'll hit the target.
Bit confusing, but thanks for the analysis.