Here was a simple breakout trade
2 trendlines, a retest on the upper trendline - red candle
Enter on next green candle and ride up
If we can close this hour candle or 4HR candle above the blue/black box at 27.8-28K, would give bullish indication to push on above to the ATH's made in the night
The long wicks below recent hour candles means buyers are picking up BTC in the mid 27s to high 27s suggesting it is a bullish environment
If it was too double top - I will update the play for that but I cannot see that happnening
ETH is currently being halted by a confluence of resistances and its the same for litecoin, expect these to move with BTC though
So if BTC grows as expected its brothers LTC and ETH should follow but majority of other altcoins will most likely suffer a few percent drop as traders take their capital from there and put it into BTC to find better rewards!
Have a good day!
2 trendlines, a retest on the upper trendline - red candle
Enter on next green candle and ride up
If we can close this hour candle or 4HR candle above the blue/black box at 27.8-28K, would give bullish indication to push on above to the ATH's made in the night
The long wicks below recent hour candles means buyers are picking up BTC in the mid 27s to high 27s suggesting it is a bullish environment
If it was too double top - I will update the play for that but I cannot see that happnening
ETH is currently being halted by a confluence of resistances and its the same for litecoin, expect these to move with BTC though
So if BTC grows as expected its brothers LTC and ETH should follow but majority of other altcoins will most likely suffer a few percent drop as traders take their capital from there and put it into BTC to find better rewards!
Have a good day!