BTC Ready to consolidate
Box 1 Will be our first support in the case of a further drop the comming days.
Box 2 can be our stronger support. The january high will provide some safety for BTC. Dont be affraid for some false break outs to lower prices. Wait for closed candles below support.
When support of box 2 is losing we face a decrease towards 32K
For the consolidation between box 1 and 2 or lower than box 2 we could expect outflow of money to ALTS Will the outlfow of money from BTC be directed towards ALTS, most likely yes! Look at 2017 when ALT season started.
Personally looking forwards for consolidation around Box 2 with the expectation that ALTS will increase like 2017.
When holding the trendline, which we touched today, BTC could face a increase towards box 3 visible on the chart. I heavily doubt it due to volume decrease since late january.
Please let me know what your opinion is and what i might have forgotten to take into account.
Box 2 can be our stronger support. The january high will provide some safety for BTC. Dont be affraid for some false break outs to lower prices. Wait for closed candles below support.
When support of box 2 is losing we face a decrease towards 32K
For the consolidation between box 1 and 2 or lower than box 2 we could expect outflow of money to ALTS Will the outlfow of money from BTC be directed towards ALTS, most likely yes! Look at 2017 when ALT season started.
Personally looking forwards for consolidation around Box 2 with the expectation that ALTS will increase like 2017.
When holding the trendline, which we touched today, BTC could face a increase towards box 3 visible on the chart. I heavily doubt it due to volume decrease since late january.
Please let me know what your opinion is and what i might have forgotten to take into account.
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