BTC possible drop : Alt-season
Updated
Alts are popping as BTC funds move out of btc into other coins. But I believe the next phase will play out just as it did in previous months. BTC still has not filled the previous low around 42,300$. Alts are moving up in anticipation of the next drop. I expect the moves to be something as follows:
-alts move up to MA (currently happening)
-Btc drops (probably hard and heavy)
-alts drop following btc drop (a good buy opportunity for alts imo)
My personal trade plan is to wait for btc to drop down towards previous low to create a Higher low. This would be my entry point. Not into BTC but into altcoins.
Happy holidays everyone.
-alts move up to MA (currently happening)
-Btc drops (probably hard and heavy)
-alts drop following btc drop (a good buy opportunity for alts imo)
My personal trade plan is to wait for btc to drop down towards previous low to create a Higher low. This would be my entry point. Not into BTC but into altcoins.
Happy holidays everyone.
Note
New entry for Alts is now. Watching for those that are trading with increased volume on strong support. Jasmy and GRT appear to be a good buy currently.Note
Personally, I'm expecting a continuation up to about $46650Not sure what to expect at this point. It will really depend on peoples incentives then. I might watch the smp500 and silver prices for some clues. If people seem optimistic and prices look bullish on any of these assets then price could go up on BTC as well.
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