We are now in BTC.D resistance zone.
If pushes through, as it has of trendline, we will continue seeing alts underperform against BTC. Worthwhile keeping your eye on BTC pairs. BTC is printing a breakout pattern so this is likely to happen. It is the king after all.
Having said that, this is quite a significant resistance zone so it may reject here which will mean alt season. Expect BTC-ETH-ALTS cycle!
For now i don't have a crystal ball so don't know which way it will go but safest waiting for confirmation candle on a higher timeframe before taking position in ALTS.
If pushes through, as it has of trendline, we will continue seeing alts underperform against BTC. Worthwhile keeping your eye on BTC pairs. BTC is printing a breakout pattern so this is likely to happen. It is the king after all.
Having said that, this is quite a significant resistance zone so it may reject here which will mean alt season. Expect BTC-ETH-ALTS cycle!
For now i don't have a crystal ball so don't know which way it will go but safest waiting for confirmation candle on a higher timeframe before taking position in ALTS.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.