I expect a sharp rise from here, but a breakdown is possible after multiple touches as well. See past chart predictions. Altcoins will be affected in a major way here.
Here's my theory, we've seen massive alt gains lately, and a ton of huge recoveries. Top alts like Link going into full FOMO mode. I believe these profits will shift to BTC
as BTC is what most players hedge against in the alt market, not USD. I could be wrong, though - plan for every scenario and be prepared for surprises.
Volume profile expects us to be a bit above 67%, if that occurs quickly, alts will experience sharp drops in many places (a handful will still rise w/ BTC either way though, some with larger gains against it)
Here's my theory, we've seen massive alt gains lately, and a ton of huge recoveries. Top alts like Link going into full FOMO mode. I believe these profits will shift to BTC
as BTC is what most players hedge against in the alt market, not USD. I could be wrong, though - plan for every scenario and be prepared for surprises.
Volume profile expects us to be a bit above 67%, if that occurs quickly, alts will experience sharp drops in many places (a handful will still rise w/ BTC either way though, some with larger gains against it)
Note
The longer we stay here, the stronger the move will be (up or down), get readyNote
A very strong move down could take us to 57.5ish area or lower, and a very strong move up could take us to 64.59 or higherNote
Alternate theory - we break down, but still have a strong market. Altcoins rise first this time, before BTC makes it's next leg up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.