The Bitcoin Train keeps rolling.
As much as I love altcoins. The Bitcoin train is the wave that will rise all ships. And I think we are seeing a setup for further gains in the short term. With money flowing into Alts and Bitcoin not really dropping in price, shows me that sidelined money is stepping into Altcoins. Those monies will quickly hop on bitcoin once the alt rise slows down, as the ratio will be favorable. We´ve seen it several times in the past.
In short, small accumulation phase, followed by leg 1 of Elliot wave, to $12,000 then retracement. Then brought to new near term high of around $15,000. Both $12,000 and $15,000 will act as resistance to place sells comfortably below both targets at it could stall just short.
If the uptrend fails, and breaks the previous support line of $9,100 then new trend is started and bear market resumes. Keeps your eyes on the chart in the next couple days as it will happen soon.
Disclaimer: This post shouldn't be taken as financial advice, but merely personal opinion of what I think the market is going to do. Be responsible with your trades people!
In short, small accumulation phase, followed by leg 1 of Elliot wave, to $12,000 then retracement. Then brought to new near term high of around $15,000. Both $12,000 and $15,000 will act as resistance to place sells comfortably below both targets at it could stall just short.
If the uptrend fails, and breaks the previous support line of $9,100 then new trend is started and bear market resumes. Keeps your eyes on the chart in the next couple days as it will happen soon.
Disclaimer: This post shouldn't be taken as financial advice, but merely personal opinion of what I think the market is going to do. Be responsible with your trades people!
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