Altcoins Bouncing, RSI About To Reverse & Why You Should Be Bullish 🚀
I hope you watched yesterday's market as excited as I did. Bitcoin broke a significant resistance and closed below 60k (today, it is already back above).
But there was an exciting aspect to watch: Despite the heavy dip, many altcoins dipped only moderately or were up!
As a result, the crypto market RSI stopped its long-term decline and didn't go lower.
The question is, what's next? Here's my scenario:
Bitcoin 📉
I am not a doom prophet, and I don't think Bitcoin will go much lower from here. Indeed, there might be another dip, but nothing substantial. Two other options are more likely, IMHO: a) Bitcoin goes sideways and hovers between 60-65k, or b) Bitcoin starts climbing and breaks the ATH.
Altcoins 🆙
We will see a more substantial relief rally for many altcoins now. Yesterday's performance was so strong that it showed we might have seen Bitcoin dominance at the top for this part of the cycle. From this point on, money should flow into the altcoins market.
How to trade 💹
Watch the coins that performed best yesterday (and today).
LINK 
OCEAN , JJASMY, FFLOKI are just a few examples. Usually, the tokens that perform well on days like yesterday are the ones that deliver the best results.
I hope you watched yesterday's market as excited as I did. Bitcoin broke a significant resistance and closed below 60k (today, it is already back above).
But there was an exciting aspect to watch: Despite the heavy dip, many altcoins dipped only moderately or were up!
As a result, the crypto market RSI stopped its long-term decline and didn't go lower.
The question is, what's next? Here's my scenario:
Bitcoin 📉
I am not a doom prophet, and I don't think Bitcoin will go much lower from here. Indeed, there might be another dip, but nothing substantial. Two other options are more likely, IMHO: a) Bitcoin goes sideways and hovers between 60-65k, or b) Bitcoin starts climbing and breaks the ATH.
Altcoins 🆙
We will see a more substantial relief rally for many altcoins now. Yesterday's performance was so strong that it showed we might have seen Bitcoin dominance at the top for this part of the cycle. From this point on, money should flow into the altcoins market.
How to trade 💹
Watch the coins that performed best yesterday (and today).
LINK OCEAN , JJASMY, FFLOKI are just a few examples. Usually, the tokens that perform well on days like yesterday are the ones that deliver the best results.
I'm Ben. Crypto lover, trader, and coder.
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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.
I'm Ben. Crypto lover, trader, and coder.
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
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.