Well, HELLO... Alts!
If you got caught in the dip with a bag of rocks, there's still hope for us here. And if you bought the dip, you've got balls! But if you're looking for a confirmation to dip your toes back in the Alts market, I say pay attention to the following technical confirmations in play:
1) Ichimoku Cloud: Alts.D daily candle breaching over the Ichimoku Cloud. So let's wait for the daily candle to close about the cloud.
2) Crosslines: The Conversion Line (blue) needs to cross above the Base Line (black). This may take extra few days. So this confirmation will be lagging but necessary.
3) The same applies to the MACD: The blue line needs to go above the red Signal Line.
4) The RSI is showing an oversold W which can translate to a pattern going north from here.
Some of you why I remain bullish for Alts, well simply put Alts were caught while giving new ATH in the mudslide that BTC created with the FUD. Nothing fundamental has changed. My expectation is that we will have an uptrend for Alts till the end of the week. During the usual bloody weekend, Alts.D might dip to retest its support that is currently resistance 1.02T 100D EMA. And if all goes as planned, then Alts should be back on a quick recovery next week.
Till then... keep the flame suit on, the market remains volatile.
Feel free to share your thoughts below.
1) Ichimoku Cloud: Alts.D daily candle breaching over the Ichimoku Cloud. So let's wait for the daily candle to close about the cloud.
2) Crosslines: The Conversion Line (blue) needs to cross above the Base Line (black). This may take extra few days. So this confirmation will be lagging but necessary.
3) The same applies to the MACD: The blue line needs to go above the red Signal Line.
4) The RSI is showing an oversold W which can translate to a pattern going north from here.
Some of you why I remain bullish for Alts, well simply put Alts were caught while giving new ATH in the mudslide that BTC created with the FUD. Nothing fundamental has changed. My expectation is that we will have an uptrend for Alts till the end of the week. During the usual bloody weekend, Alts.D might dip to retest its support that is currently resistance 1.02T 100D EMA. And if all goes as planned, then Alts should be back on a quick recovery next week.
Till then... keep the flame suit on, the market remains volatile.
Feel free to share your thoughts below.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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