BTC-WAVES, break from trendline with an engulfing candle pattern

BITTREX:WAVESBTC   Waves / Bitcoin
BTC-WAVES: After a large period of consolidation, we now can see a potential bottom printed by a strong buying volume . We can also watch that the big buying volume was filled between the areas of the 88.6% Fibs of the big rallies of Jun 2017 and Dec 2017, and that it is converging with the trendline shown in the chart. We are just waiting for a trendline breakthrough to place our long order.


As now BTC is testing low price levels, all altcoins are feeling this pullback. For the market it is not that bad, since it was not that solid to go superbull after being beatten so long.
As such we have to wait for a BTC estabilisation of price and more money being puting in to start making even better entries.
None the less, we are already in a buying zone for altcoins in general, and making some small investments when the conditions are met is not a bad move in our opinion.
pmpl27 pmpl27
@pmpl27, 1 year of downtrend
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