Altcoins Golden Cross
The Crypto Market Cap minus BTC is one of the most important charts in crypto right now. For the last couple of weeks alts have given a higher beta than Bitcoin.
The alts market have already had their golden cross and are moving hard towards the second layer of the angel cake. We also have some clear rounded bottoming. But this is certainly not yet a sign that alts will continue to outperform Bitcoin over the medium and long term. Expect strong resistance from here to the .236 - this will be the key level to get out of. However more rounded bottoming on the way is very possible.
In the meantime, enjoy trading alts against BTC and always look for sound entries and r:r.
The alts market have already had their golden cross and are moving hard towards the second layer of the angel cake. We also have some clear rounded bottoming. But this is certainly not yet a sign that alts will continue to outperform Bitcoin over the medium and long term. Expect strong resistance from here to the .236 - this will be the key level to get out of. However more rounded bottoming on the way is very possible.
In the meantime, enjoy trading alts against BTC and always look for sound entries and r:r.
