Alt market more Bullish than Bitcoin, Part 9

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.



Please don't forget to like if you appreciate this :)



Previous analysis: