BTC/JPY - weekly Analytics + Altcoins 12.10.2020The triangle in the bitcoin has ended with an exit to the top, and the key support level now is 1167500. Investors’ sentiment is at neutral levels, that indicates the continuation of a global correction rather than the origin of a stable trend. It is necessary to track forming patterns in the current price range to understand whether short formations will be formed or whether the long trend will continue.
Altcoins: (considered coins are LTC, ETH, EOS, XRP, ETC, NEO, XMR, OMG, DASH, SAN, IOT)
The determining factor for movements in altcoins will be the formation of a local reversal top in the bitcoin or the formation of consolidation, which will continue the growth of quotations. There is a high probability that these formations will appear during the current trading week.
