What Happens To The Altcoins If Bitcoin Drops Strong?
Updated
Here we have Bitcoin (BTCUSD) on the daily (D) timeframe.
What you see marked on the chart is a bearish cross of EMA50 and EMA10.
This can lead to a small bounce followed by a strong drop, or straight to the drop...
What happens to the altcoins we are enjoying if Bitcoin drops strong?
The Altcoins market has been growing a lot lately so many people can be expecting a drop... But the market is a lot bigger than before and even though many altcoins are growing, there are still more that are trading near all-time lows and are waiting for their turn to move up.
If Bitcoin prints a very strong drop, the entire market will go red for a few days...
As soon as the panic is gone, the altcoins will bounce back up with even more strength.
If Bitcoin drops strong, the money will flow to the altcoins which will continue to grow.
Do you agree or disagree with this analysis❓❓❓
Share with us in the comments section below.
Namaste.
What you see marked on the chart is a bearish cross of EMA50 and EMA10.
This can lead to a small bounce followed by a strong drop, or straight to the drop...
What happens to the altcoins we are enjoying if Bitcoin drops strong?
The Altcoins market has been growing a lot lately so many people can be expecting a drop... But the market is a lot bigger than before and even though many altcoins are growing, there are still more that are trading near all-time lows and are waiting for their turn to move up.
If Bitcoin prints a very strong drop, the entire market will go red for a few days...
As soon as the panic is gone, the altcoins will bounce back up with even more strength.
If Bitcoin drops strong, the money will flow to the altcoins which will continue to grow.
Do you agree or disagree with this analysis❓❓❓
Share with us in the comments section below.
Namaste.
Comment
Note: There is no confusion between a bullish and bearish Bitcoin for Alan Masters and his followers.We have been bearish since mid-May 2020.
Yesterday we decided to READ the weekly chart.
In the analysis, we clearly mention a technically bullish Bitcoin but that would change if prices move and close below EMA10.
If you look at the chart and the description/analysis you will surely agree.
The 1H chart is short-term and changes every few hours.
Here we are looking/reading the daily chart... We share what we see on the chart.
Charts are always changing... Please keep this in mind.
A chart can be bullish today, bearish tomorrow, and vice versa.
The daily chart for Bitcoin (BTCUSD) is bearish.
Prices trading below EMA10 is one signal that I look at.
Trading below EMA50 is another bearish signal and stronger.
A bearish cross is another one.
Low volume another one.
Lower highs, another one, etc.
"Considering" the bullish scenario on a longer timeframe doesn't change our view and we never shared any trades in any of our channels asking people to long Bitcoin, only reading charts.
I know this can be confusing for some but if it is... It is your job to stay out and trade only once you are 100% certain in what you are doing, once you feel 100% sure.
Namaste.
Comment
The market is alive and always moving, changing... Dynamic.We keep separate TA and trades.
For us one thing is TRADING and another thing is READING CHARTS (TA).
Our posts here do not affect any of our trades.
All of our trades have a very strong, simple, and clear plan.
Buy low, sell high.
We also have targets and a stop-loss on all trades.
We remain active above the stop-loss... We sell for profits when the targets hit.
If prices activate the stop-loss, regardless of what is being written, that's when we close the trade at a loss and move on.
This is very uncommon for us... Since we focus on the profits, low risk, and high rewards.
Comment
Focus on the altcoins...Comment
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Comment
This move is likely to be the bounce mentioned in my initial posts..."What you see marked on the chart is a bearish cross of EMA50 and EMA10.
This can lead to a small bounce followed by a strong drop , or straight to the drop ..."
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