BTC has oscillated between 11091-12154 levels for the past week. This also forms the .386-.236 range of the fibonacci range. The recent breakout about 50 DMA confirmed the upward trend will continue this is likely the retest of 50DMA. However, BTC domination is currently 68.6%. This suggests an Alt season is on the horizon. Since any upward or downward movement will increase BTC dominance. BTC is likely to remain rangebound or move upward but alts may likely out-perform BTC now.
The retest of 50 DMA will be a good buying opportunity.
The level of 9100 has held and on the larger timeframe this 35% corerction is in line with the correction in the previous bull run. Is the trend resumes upward it may go upto 19348 before another correction.
The retest of 50 DMA will be a good buying opportunity.
The level of 9100 has held and on the larger timeframe this 35% corerction is in line with the correction in the previous bull run. Is the trend resumes upward it may go upto 19348 before another correction.
The TK crossover is still valid, so i hope this is not a long term reversal of the trend.