Alright wolves, BTC looking quite strong overall and we have formed a bull flag, however, short term we can see RSI divergence on the 30m chart, and tightening Bollinger Bands indicating a small drop pending. We will most likely break down from this bull flag and touch the current trend line (yellow) once more, if we bounce off it we will make our way up to 8400, if we fall through that trend line we could fall back to the long term wedge resistance turned support.
Monitor closely any sudden drop from BTC will see alts flash dump.
Monitor closely any sudden drop from BTC will see alts flash dump.
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Touching the trend line now, can we cross it and get back on top?
Supports are 7900, 7775, 7700 and wedge support at 7500
As expected alts will take a hit, good opportunity to pick up some cheap alts in the dip.