ALTCOINS777-Bitcoin | Bullish Above $10,500, Bearish Below $9400

19 giu 2020

Will Bitcoin sideways continue?

We continue to see massive bullish action happening for the altcoins market (all altcoins minus TOP10).

The altcoins vs bitcoin pairs continue growing and many are printing strongly bullish charts.

The best scenario for the altcoins to continue growing is Bitcoin Sideways.


Bitcoin Sideways & The Altcoins Market

Bitcoin (BTCUSD) has been going sideways now for almost two months.

As prices peaked, we considered this scenario and mentioned Bitcoin being bullish above $10,500, but instead, we go bearish if $9,400 is lost as support.

Prices are now trading below $9400 for BTCUSD, but Bitcoin remains strong even if it drops as long as it stays above $8200.

Let me explain further.

Many of you are concerned as to what will happen to our altcoins if Bitcoin drops...

Should I sell everything?
Should I buy TetherUS?
Should I keep my altcoins or move everything to Bitcoin?

The truth is that we treat each chart separately, each trade is unique and we cannot give such recommendations as many pairs are already booming while others are trading low.

If Bitcoin drops but remains above $8200, the altcoins will continue to grow.

Only a very strong drop will turn the entire market red... But please keep in mind that a new cycle is now in full effect.

So, when the big correction comes for the altcoins which will happen next... Remain relaxed and calmed, it will only last max 1-2 weeks or it will go for just a few days.

The altcoins are setting themselves up for long-term growth.

Just as we saw a multiple years-long bear market... You can expect a very strong bull market from now on.

Feel free to leave a like or a comment to show your support.

Namaste.