vlenz

Battle of fib 0.61 resumed

BITSTAMP:BTCUSD   Bitcoin / Dolar
412 3 9
Opportunistic trading in altcoins eventually resulted in BTC             breaking its important 0.61 fib support zone around 14.150, followed by a free fall down to the next support level at 0.5 fib around 12.500 tonight. At the time of this writing, 0.61 fib is tested again, as an even sharper decline of altcoins may have helped sort out some opportunistic altcoin trading & may eventually lead to a new alliance of bullish crypto traders with BTC             . Anyway, the recent significant fall below 0.61 fib indicates our correction is not yet bottomed-out. Even a fib 0.38 support zone may be tested soon, where a rebound is very likely.



Hi @vlenz

is btc game is over, can any alt coin replace btc?

Thanks.
Balas
vlenz shsukhi444
@shsukhi444, IMHO the game is not yet over & will go on so long as BTC does not drop below 10.900. Alt coins are highly correlated with BTC, but even more leveraged. That's why I avoid taking stakes in alt coins. Stakes I take in BTC are spooky enough & I don't want to burn my cash with those who just follow the leader.
Balas
looks like a nice call so far
+1 Balas
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