the large support level on Bitcoin that was lost early last week has been regained with some strength. A couple strong candle closes above that level have confirmed a failed breakdown. In other words, we have a swing failure pattern on BTC, and this typically means that price will push pretty strongly away from it and punish the trapped sellers in this case.
However, often times we can see a nice retest of the regained support level. If this is the case, there are many altcoin setups that would look very strong and it comes down to finding the ones that occur at the correct time in confluence with one another. A good example of one of these retracements is my recent ETH post. There are many others that follow a similar idea that I am watching and may write up a couple additional posts and share some as we wait to see what BTC price will do.
the large support level on Bitcoin that was lost early last week has been regained with some strength. A couple strong candle closes above that level have confirmed a failed breakdown. In other words, we have a swing failure pattern on BTC, and this typically means that price will push pretty strongly away from it and punish the trapped sellers in this case.
However, often times we can see a nice retest of the regained support level. If this is the case, there are many altcoin setups that would look very strong and it comes down to finding the ones that occur at the correct time in confluence with one another. A good example of one of these retracements is my recent ETH post. There are many others that follow a similar idea that I am watching and may write up a couple additional posts and share some as we wait to see what BTC price will do.