BTC.D- Are ALTS Down from Here !
Updated
BTC.D has been falling sharply lately, giving room to ALTS to out-perform Bitcoin while BTC consolidates and moves above 20EMA in price action.
BTC.D has broken down the black falling wedge pattern which was supposed to break higher in terms of probability and if you notice, after breaking down the patterns BTC.D experienced a sharp drop.
Fibb circles are now a strong support and pivotal points for action to take a huge momentum (push) or dump.
If you are in for the ALTS, that would put BTC.D at 35% or lower and that I sincerely can't see it coming, at least on below 35% I can not see it going f we continue to drop on BTC.D and increase on BTC/USD so ALTS may go rallying even higher than they have already rallied.
I would advice taking profits with ALTS in spot, how much is up to you to decide upon your goals and risk metrics.
Me myself, have already taken 50% out of my ALTS as TP, and the rest are left for the long HODL.
Bitcoin has received a huge pump just 2 hours ago and I wonder wether profit taking with ALTS will take place so price of Bitcoin will be supported by us(retailers) to continue it upward strong momentum
TRADE SAFE!
Please understand that this is not Financial Advice!
Highly suggested to make your own research before partaking on any trading actvities based upon this idea!
Know that everything said from me or anyone else is nothing but just mere speculation wether there is TA involved in it or not.
Nobody knows how the markets will play out, we are Retailers!
BTC.D has broken down the black falling wedge pattern which was supposed to break higher in terms of probability and if you notice, after breaking down the patterns BTC.D experienced a sharp drop.
Fibb circles are now a strong support and pivotal points for action to take a huge momentum (push) or dump.
If you are in for the ALTS, that would put BTC.D at 35% or lower and that I sincerely can't see it coming, at least on below 35% I can not see it going f we continue to drop on BTC.D and increase on BTC/USD so ALTS may go rallying even higher than they have already rallied.
I would advice taking profits with ALTS in spot, how much is up to you to decide upon your goals and risk metrics.
Me myself, have already taken 50% out of my ALTS as TP, and the rest are left for the long HODL.
Bitcoin has received a huge pump just 2 hours ago and I wonder wether profit taking with ALTS will take place so price of Bitcoin will be supported by us(retailers) to continue it upward strong momentum
TRADE SAFE!
Please understand that this is not Financial Advice!
Highly suggested to make your own research before partaking on any trading actvities based upon this idea!
Know that everything said from me or anyone else is nothing but just mere speculation wether there is TA involved in it or not.
Nobody knows how the markets will play out, we are Retailers!
Note
Just 24 hours or less after this idea was released, ALT's plunged on average of -15% down to -25% on different coins while Bitcoin printed a candlestick as low as 43.000$ .
Currently BTC.D is on a key PIVOTAL turning point, either to the upside or downside, but so far it has wicked and founded support on the intersecting Fibbonaci Circles, indicating so far great support on them in order to push higher.
But that is yet to be confirmed.
BTC.D has more probabilty to be headed in to higher % rather than dropping below Fibbonaci Circles since it has declinded sharply after Bitcoin set a high of 52.000$ from the low of 29.000$ .
I'm expecting more downside from here to alts and Bitcoin, but there is a probabilty Bitcoin has already set a low before raging bulls come to take place. If not just be careful with your positions .
Trade safe!
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