It looks like the entire cryptocurrency market is about to take a plunge. from constant failed breakouts, to low volume this market seems to be on thin ice.
Too much uncertainty, and every small volume pump is being retraced. Either sideline, or take advantage of shorting.
This is not financial advice.
I foresee a V recovery coming for Bitcoin, multiple harmonic factors (RSI/STOCH/MA) come into play including fractals to insinuate a clean retest of the ATH, and I I believe it will be in the shape a of a V with a lot of incoming volume & exuberance.
Trade at your own risk.
If Bitcoin closes a daily candle below $31,500 this chart is completely invalidated & closed.
I am bullish at this current level until proven otherwise & it would be wise to wait for confirmation.
Take a hard look at this chart, and understand it before commenting.
This is not financial advice, trade at your own risk.
Bitcoin could experience long-term consolidation, giving time for $ALTS to gain dominance for the remainder of the year.
Time-frame is irrelevant, but the outcome is very relevant. We're bound to see Bitcoin rest & form some bullish consolidation.
This should be fantastic for Altcoins like Ethereum , and other top market-cap altcoins in general.