Would ALTs survive such Bearish Bitcoin scenario?
Although I am more pro a wave top in April 2021, this bearish bitcoin scenario was always in mind...Say, i am the optimistic person!
Albeit weakened, the more bullish scenario still stands, yet we need to see bitcoin crossing the 45k resistance and turning it into a support zone.
the longer it remain hoovering between 35 and 42, the weaker it becomes...and the higher the possibility of a crash.
Historically, bitcoin wave 2 tends to be the deeper one, reaching fib 0.786 before bouncing back. In those scenarios, wave 4 was shallow and often retraced till fib 0.236.
Will we see such scenario? in such case, what will happen to the majority of ALTs? Will news from XRP come out to kick in a rally and invalidate this scenario?
Lets see what the future holds! Until then, Stay Safe!
PS: THIS IS NOT A FINANCIAL ADVICE!!!
Albeit weakened, the more bullish scenario still stands, yet we need to see bitcoin crossing the 45k resistance and turning it into a support zone.
the longer it remain hoovering between 35 and 42, the weaker it becomes...and the higher the possibility of a crash.
Historically, bitcoin wave 2 tends to be the deeper one, reaching fib 0.786 before bouncing back. In those scenarios, wave 4 was shallow and often retraced till fib 0.236.
Will we see such scenario? in such case, what will happen to the majority of ALTs? Will news from XRP come out to kick in a rally and invalidate this scenario?
Lets see what the future holds! Until then, Stay Safe!
PS: THIS IS NOT A FINANCIAL ADVICE!!!
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