Today we saw BTC do a small crash all the way back to the 47k USD range. It has recovered since and is currently hovering around 53k USD.
We might see a further decrease in price, which will probably cause alts to bleed out even more. Currently, we are heavily oversold since the only reason we saw a
big price drop today was due to the volatile behaviour of BTC.
I think we will see a price bounce once BTC calms down, to 115-120 sats. But I am afraid it is near impossible for most crypto's (including BTS) to break out in the current market unless some very positive news comes to light. Thing that worries me is BTC.d increasing... For altseason to start, BTC.d has to decrease. I think this is exactly what BTS needs for a complete breakout.
1. MACD currently not bullish but will probably adjust very soon.
2. StochRSI indicates heavily oversold... Which is only logical considering the current situation.
3. BTS Volume heavily increased today compared to previous days. Might be due to the massive sell off and dip-buying, however I still see a volume increase as a positive thing. Futures market on Binance also has a 17m USD volume, which is decent.
Short term bounce expected but if it doesn't do a complete breakout, we will probably bleed more considering chances are very big BTC will start moving again.
I am holding because I do not want to risk missing it once we break out.
We might see a further decrease in price, which will probably cause alts to bleed out even more. Currently, we are heavily oversold since the only reason we saw a
big price drop today was due to the volatile behaviour of BTC.
I think we will see a price bounce once BTC calms down, to 115-120 sats. But I am afraid it is near impossible for most crypto's (including BTS) to break out in the current market unless some very positive news comes to light. Thing that worries me is BTC.d increasing... For altseason to start, BTC.d has to decrease. I think this is exactly what BTS needs for a complete breakout.
1. MACD currently not bullish but will probably adjust very soon.
2. StochRSI indicates heavily oversold... Which is only logical considering the current situation.
3. BTS Volume heavily increased today compared to previous days. Might be due to the massive sell off and dip-buying, however I still see a volume increase as a positive thing. Futures market on Binance also has a 17m USD volume, which is decent.
Short term bounce expected but if it doesn't do a complete breakout, we will probably bleed more considering chances are very big BTC will start moving again.
I am holding because I do not want to risk missing it once we break out.