Let's start with the altcoins first and I will explain my point at the bottom.
Litecoin (LTCUSDT)
- Above EMA50, high volume today. - Signaling green next week.
Chart:
Bitcoin Cash (BCHUSDT)
- Full green candle today. - Trading above EMA21 and EMA10. - Signaling green next week.
Chart:
EOS (EOSUSDT)
- Hits a new high today. - Trading above EMA50. - Signaling green next week.
Chart:
Ethereum (ETHUSDT)
- We have a bullish flag. - High volume today. - Trading above EMA50. - The retrace did not hit any of the moving averages, this signals good strength.
Chart:
Cardano (ADAUSDT)
- Trading above EMA50. - Same situation as the pairs mentioned above.
The cryptocurrency market moves together... The major Altcoins move together...
While we can see a doubtful/shaky Bitcoin chart, this is done on purpose because everybody's attention is on Bitcoin, so it can't be 100% clear what will happen next.
So we get the doubt on Bitcoin but if we look deeper, other charts that are correlated are already moving ahead.
My theory is that Bitcoin will grow because all these others are also growing and they move together/in groups.
We already used this same thinking successfully before... See these two examples below with Ethereum Classic (ETHUSDT) and Polygon (MATICUSDT).
Polygon
Ethereum Classic
In the TOTAL chart we can see that the MA200 support holds.
After an entire month of consolidation we get a hammer (reversal signal) and this week a full green candle...