Direction Decision Time BTC
This is not financial advice DYOR because I know next to nothing. I just wanted to share my idea with the community. I'm using price action on BTC as a guide to buy my favorite alts: ERG, NANO, ADA, FIL, SIA, ALGO, CELO. In my view, TA on alts is next to pointless with BTC where it is. I drew this channel by connecting the lows of the two dramatic selloffs we've seen in recent weeks. I was looking first for RSI to show a change of some type and that happened last week when we brokeout of a downtrend line. I don't think this says very much other than there's a difference now. Doesn't mean BTC is going up. The next thing that happened was a crossover on MACD on the BTC 1D chart. That's actually a big deal. Then we just retested the 30K area and we're already back up to the top of this "channel." I think if BTC moves above this blue line, I'm going to start feeling more bullish again. Hopefully it's not a trap!
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