Hello,
I am currently long but being very careful on this trade with tight stop loss should we have any sudden moves in BTC. The next major area I want to see broken and flipped is 1430. If we get a break out above and can flip that level we could see continuation up to the next area which for me is 1630 on the daily.
The next area is 2400-2500 but that would be unlikely to happen anytime soon unless BTC really behaves well (which I doubt).
I believe sitting out could be ideal right now but I can't help seeing some very bullish set ups right now among certain mid to low cap alt coins.
If we get a major move up on BTC I do think alt coins will follow. But I don't think the blood is over yet for this market. A retrace back to at least $5500 on BTC seems likely so remember not to get exposed to alt coins if BTC is looking ready to plunge. One could argue it is ready to plunge right now, but we will just have to see what comes next week in the markets.
I am currently long but being very careful on this trade with tight stop loss should we have any sudden moves in BTC. The next major area I want to see broken and flipped is 1430. If we get a break out above and can flip that level we could see continuation up to the next area which for me is 1630 on the daily.
The next area is 2400-2500 but that would be unlikely to happen anytime soon unless BTC really behaves well (which I doubt).
I believe sitting out could be ideal right now but I can't help seeing some very bullish set ups right now among certain mid to low cap alt coins.
If we get a major move up on BTC I do think alt coins will follow. But I don't think the blood is over yet for this market. A retrace back to at least $5500 on BTC seems likely so remember not to get exposed to alt coins if BTC is looking ready to plunge. One could argue it is ready to plunge right now, but we will just have to see what comes next week in the markets.