Alts need a 'Small Push' for a HUGE Pump!
Updated
Market keeps going sideways after XRP vs SEC news favored the crypto market.
Today i will not talk about Fundamentals though but about Technical (TA).
What i like to call the 'All Time Trendline' is the biggest level in my analysis.
In this case this has clearly acted as support in March this year and more recently in June this summer.
At this stage this same level is resistance at 377 Billions.
If and when this level can be breached it can result to a massive Pump (a Rise) in Altcoins as the next level would be much higher at 600 billion dollars.
The price is trapped in a descending channel and those more likely end up offering breakouts.
We are very close to that breakout, we practically need a 'little push' over the 380 billion level.
Nasdaq might give us that little push coming closer to All Time Highs.
Be aware: we are still at resistance (the channel/yellow levels). We still need that little push to break much higher! So we will be on alert!
the Bad scenario is rejection and lower in the channel..still priced at 37-38% likelihood for 296 billion Total 3.
One Love,
The FXPROFESSOR
PS. Time for Alts to rise Bitcoin higher or will a systemic risk do the opposite? We will find out in the next 2-3 months! stay close, stay focused.
Today i will not talk about Fundamentals though but about Technical (TA).
What i like to call the 'All Time Trendline' is the biggest level in my analysis.
In this case this has clearly acted as support in March this year and more recently in June this summer.
At this stage this same level is resistance at 377 Billions.
If and when this level can be breached it can result to a massive Pump (a Rise) in Altcoins as the next level would be much higher at 600 billion dollars.
The price is trapped in a descending channel and those more likely end up offering breakouts.
We are very close to that breakout, we practically need a 'little push' over the 380 billion level.
Nasdaq might give us that little push coming closer to All Time Highs.
Be aware: we are still at resistance (the channel/yellow levels). We still need that little push to break much higher! So we will be on alert!
the Bad scenario is rejection and lower in the channel..still priced at 37-38% likelihood for 296 billion Total 3.
One Love,
The FXPROFESSOR
PS. Time for Alts to rise Bitcoin higher or will a systemic risk do the opposite? We will find out in the next 2-3 months! stay close, stay focused.
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Alts looking good to go higher!
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