Many cryptos have bled out ending the last week as well as over the weekend. As we enter next week, I am looking for the week to begin moderately bullish until some large economic news comes out on March 20th (US time).
The setup above with BTC shows a bit of why that may be possible. BTC hit a respected support level over the weekend, creating a lot of volatility at this level, but ultimately has pulled back above it. In addition to that support, smaller market structure is running out of room with this support level. A break higher here would also allow many coins to print larger topping patterns for a retracement such as double-tops, etc.
Many cryptos have bled out ending the last week as well as over the weekend. As we enter next week, I am looking for the week to begin moderately bullish until some large economic news comes out on March 20th (US time).
The setup above with BTC shows a bit of why that may be possible. BTC hit a respected support level over the weekend, creating a lot of volatility at this level, but ultimately has pulled back above it. In addition to that support, smaller market structure is running out of room with this support level. A break higher here would also allow many coins to print larger topping patterns for a retracement such as double-tops, etc.