BTC Sideways + Altcoins Update (BQX, WABI, UP, PAY, STEEM)
Updated
Bitcoin hasn't been able to get out of the heavy waters, it is still just heavy for Bitcoin to move up. But the question is this, does Bitcoin wants to move up? What about the Altcoins?
Bitcoin is definitely not going up in the past few weeks but it also stopped going down. Lately, Bitcoin's volatility has been reduced to none, but not all is lost.
Hey Mr. Masters, but what about the altcoins?
The altcoins and Bitcoin are always correlated and in more than one way.
Right now we are seeing altcoins doing some really crazy numbers on some of the major cryptocurrency exchanges.
With Bitcoin in doubt and a bear market in full on mode, why would altcoins start breaking out all of a sudden this much?
This bullishness with the altcoins can be a signal that we are about to change trend or at least a very strong corrective wave up is coming... Whichever one it is, it is already happening... Let's take a look:
ETHOS (BQXBTC). Does 200%+ Gains in a matter of days. The breakout was so strong that it took out EMA100 and reached all the way to EMA200.
BQXBTC also printed the highest volume bar ever. Dozens of times higher than January's bull run volume. Chart:
Then we have PAYBTC, WABIBTC, STEEMBTC and UPBTC generating huge gains as well in a very short period of time, just to name a few. The volume for these is also pretty high compared to average and earlier bullish action.
High volume on a weekend?
Super high volume on a weekend... Think about it.
The last time we had this type of bullish signals coming from the altcoins, we had almost two months of green action...
To me this looks just like a warm-up, things will become really crazy (positive) later this year. But it is good to see bullish action for the smaller alts with good momentum for a change, hopefully Bitcoin will follow.
You think the altcoins bullishness is a sign that market sentiment is changing?
You think Bitcoin is done going down or it needs some more?
Please share your comments in the comments section below.
Namaste.
Bitcoin is definitely not going up in the past few weeks but it also stopped going down. Lately, Bitcoin's volatility has been reduced to none, but not all is lost.
Hey Mr. Masters, but what about the altcoins?
The altcoins and Bitcoin are always correlated and in more than one way.
Right now we are seeing altcoins doing some really crazy numbers on some of the major cryptocurrency exchanges.
With Bitcoin in doubt and a bear market in full on mode, why would altcoins start breaking out all of a sudden this much?
This bullishness with the altcoins can be a signal that we are about to change trend or at least a very strong corrective wave up is coming... Whichever one it is, it is already happening... Let's take a look:
ETHOS (BQXBTC). Does 200%+ Gains in a matter of days. The breakout was so strong that it took out EMA100 and reached all the way to EMA200.
BQXBTC also printed the highest volume bar ever. Dozens of times higher than January's bull run volume. Chart:
Then we have PAYBTC, WABIBTC, STEEMBTC and UPBTC generating huge gains as well in a very short period of time, just to name a few. The volume for these is also pretty high compared to average and earlier bullish action.
High volume on a weekend?
Super high volume on a weekend... Think about it.
The last time we had this type of bullish signals coming from the altcoins, we had almost two months of green action...
To me this looks just like a warm-up, things will become really crazy (positive) later this year. But it is good to see bullish action for the smaller alts with good momentum for a change, hopefully Bitcoin will follow.
You think the altcoins bullishness is a sign that market sentiment is changing?
You think Bitcoin is done going down or it needs some more?
Please share your comments in the comments section below.
Namaste.
Note
Bitcoin continues with its sideways movement, the range is becoming more narrow, we will have a breakout Sunday/Monday. We are now trading within EMA10 (support - green) and EMA50 (resistance - magenta):
Note
Bitcoin has broken above our sideways channel with good volume and momentum. 4H candle closes in 1 hour. Based on this close, we can read what will happen next.All of our trades are generating great profits. So please check my profile and make sure to hit LIKE on all of those... Huge profits, fast, low risk...
Namaste.
Note
Updated view: - Highest volume 4h candle since 6th January, when a breakout occurred.
- MA200 (black line) worked as resistance at $3882.
- EMA100 (blue) is now working as support.
- The MACD is entering the bullish zone.
- RSI is bullish.
BTCUSD needs to retrace and consolidate until its next move.
We can have a continuation move if the bullish bias is maintained, tomorrow or Monday. If it doesn't happen by this date, then on Wednesday/Thursday.
I will keep you updated in case there are any changes in the charts.
If any sudden moves happen, I will post an update.
Thanks a lot for reading.
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