Hello,
In the short term, we can have a good opportunity for buying. However, in the long term, I think we can easily break through 140, perhaps even sub 100. Similar to my analysis on ADABTC, I do think that we may still see a significant downtrend in the next weeks or months.
GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade
THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!
In the short term, we can have a good opportunity for buying. However, in the long term, I think we can easily break through 140, perhaps even sub 100. Similar to my analysis on ADABTC, I do think that we may still see a significant downtrend in the next weeks or months.
GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade
THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!
It looks that the price have nicely moved along the red line scenario and deviated slightly at the end. While bitcoin shows serious moves, some alts are ranging against BTC. It is very likely that on the next major move for bitcoin we might se some dramatic changes in altcoin price.
For me, if the price closes strongly above 270 it is a good signal for buying with targets around 500-600 sats.
If it drops stroongly below 170, it is possible to go even below 100. I would not recomend selling at these levels because the bottom might be close..
However, if we do see a downward continuation, I would consider a long term buy below 100.