I see XEL performed an ABC correction (also influenced by BTC correction) after a pump. Correction happened down to the 0.78 fib retracement level and I see a double bottom possibility here. Volume decreased, so the hype is over and thats what we want to see. RSI shows an oversold market on the daily chart.
I added a screenshot of the calculated XEL/USD chart. We are now back at the demand zone on the lower region of it, so I expect accumulation here.
Of course trading ALTS during BTC correction is risky, you might wanna wait until a safe long position on BTC is possible.
Good Luck!
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By the way some ppl traded the H&S pattern but H&S pattern has to be confirmed by a H&S pattern on volume and i dont see this here. I guess it was forced by the BTC correction. Just a sidenote
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As I already mentioned BTC needs to be stable and money needs to flow back to Altcoins, but the target for the next wave would be around 12k Sat.
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Moving sideways, not much to say as BTC has to decide the next movements. Sell if BTC crosses support, buy if we break big resistance around 9000$.
Money needs to go back into altcoins, that can take some time because people needs to trust BTC before going into altcoins.