Previous analysis played out almost perfect, made another drop and bounced up from the green support zone on the right. The bigger picture correctional phase on the right is still following the blue line the past 6 weeks. Following the healthy version of it. Only thing is, Bitcoin has rallied so much more the past weeks, they are not sharing the same sentiment.

Anyway, we broke that important resistance now, which looks ugly at first, but it is a small step at first to have broken it. Now it's dropping quite hard again at the moment. Now we want to see it slow down again coming days. Now we want to see something like the blue line, making another higher low and than slowly turn up again. If that happens and we see the market accelerate eventually and break the previous highs around 8500 (red resistance on the left), than we might be able to become more bullish on alts for the mid term.

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You are d best TA person i have ever followed on Trading view. Thanks for sharing.
Binance hasn't taken any new money since the hack. I would think this has to be holding back a lot of the smaller alts at a time when new money is pouring into bitcoin. I'm guessing they could really pump when binance comes back up.
From the looks of your blue line the market should retrace to the blue box now. Thanks for invaluable analysis. TV would not be the same withut you.
+1 Reply
botje11 pranavchadha18
@pranavchadha18, haha well that is a very nice compliment :) and yes, it’s not should for me, but I think it’s most likely yes
Thanks David. Hoping BTC will not smash ALTS anymore :(
@Zenter, hope so too, your welcome :)
Tks for sharing
This is my ETH chart, leave a comment pls
god bless you.
botje11 htgorgulu
@htgorgulu, Thank you and God bless you too
+1 Reply
Excellent analysis. I share the same sentiment. Accurate call after call!!
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