Bitcoin - Alt Party before the King's Rally?
I hope everybody is doing well.
I'm going to keep this brief.
From the last post we called the falling wedge breakout with a first target of 9.2k and a second target of 10.8k at which the log-scale downtrend resistance line will either be broken or we will go down to lower support levels.
Well, the price went up quite a bit (from 7300$) and the market looks healthy. We are still waiting on the price to test the log-scale downtrend line, that said I got multiple observations that indicate that BTC is bullish.
**Right now we are seeing a lot of altcoins spiking in price we are also seeing Bitcoin pump harder than LTC and ETH.
Altcoins are pumping for one last time before a new uptrend rally starts in BTC in which Alts will go to the bottom to the lowest levels of accumulation. (Whales pump alts to get people in, so they can get out in fiat and BTC)
As for LTC and ETH, Usually BTC goes up in an uptrend rally while ETH and LTC fall back to the bottom with Alts and we are already witnessing this happen. In other words, LTC and ETH are no longer going up with BTC by the same amount and with time they will start dumping while BTC pumps. We have seen this happen before multiple times and right now we are seeing the beginning of it.
So based on these notes/assumptions I would say that the time to sell alts including LTC and ETH is nearby and BTC will start a new upwards rally soon.
~DCFreak
I'm going to keep this brief.
From the last post we called the falling wedge breakout with a first target of 9.2k and a second target of 10.8k at which the log-scale downtrend resistance line will either be broken or we will go down to lower support levels.
Well, the price went up quite a bit (from 7300$) and the market looks healthy. We are still waiting on the price to test the log-scale downtrend line, that said I got multiple observations that indicate that BTC is bullish.
**Right now we are seeing a lot of altcoins spiking in price we are also seeing Bitcoin pump harder than LTC and ETH.
Altcoins are pumping for one last time before a new uptrend rally starts in BTC in which Alts will go to the bottom to the lowest levels of accumulation. (Whales pump alts to get people in, so they can get out in fiat and BTC)
As for LTC and ETH, Usually BTC goes up in an uptrend rally while ETH and LTC fall back to the bottom with Alts and we are already witnessing this happen. In other words, LTC and ETH are no longer going up with BTC by the same amount and with time they will start dumping while BTC pumps. We have seen this happen before multiple times and right now we are seeing the beginning of it.
So based on these notes/assumptions I would say that the time to sell alts including LTC and ETH is nearby and BTC will start a new upwards rally soon.
~DCFreak
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